Get started

ONG

Why multi-month patterns are more successful (SPOT)It is easy to get caught up in the idea of getting a bunch of small winners is the best way to grow an account. This is because of the rush you get when a win occurs. The more often it happens the better you feel. In reality, this works against the trader's odds because you have to win more often and have to be more accurate. What I want to focus on are the long term patterns. over the course of several months. These trades tend to net more profit and cause less stress for the investor because they take less maintenance and effort to trade. The win ratio can be smaller on these trades because the profit is larger. This chart of Spotify (SPOT) is a perfect example of a macro (long-term) multi-month chart patterns that paid out huge profits. This ticker has had a history of macro breakouts most recently a few days ago. The price really follows the moving averages well and consolidated under a clear price of 292. There are a few things you want to look for when trading macro patterns. 1. clear support and resistance lines. in this case, 292 is resistance, and 245 is support. These levels are easily marked and tracked. One could even buy at support for these trades and sell closer to resistance. 2. Volume is king. A low volume name is never going to leave its range. SPOT has tons of volume being a tech name that has huge popularity. I usually look for names that have one million in shares volume per day. 3. For a breakout to be confirmed it needs to attempt the resistance price AT LEAST 3 times. The third time is important because it's a psychological tipping point for most traders and algos. I like to refer to these as layers of probability. The more you have the more likely a trade is to work in your favor.
NYSE:SPOT
by The_Level_Two
2
ONGUSDT AnalysisSince there are 3 SELL signals present (BEAR signal is right behind the HELL), I'm BEARISH. I don't think this is a good time to buy right now. If you want to buy again, we have 3 different options. 1- You can wait for EngineeringRobo's BUY signals to be present, 2- You can wait for candles to open-close above resistance level (0.18) for 1D to buy, 3- You can buy when candles touching the support line (0.099). After you buy, please watch out for EngineeringRobo's sell signals and consider selling it.
by EngineeringRobo
1
ONGUSDT ANALYSISI have only 1 positive signal It is not good time to buy this coin now Buy at the support line( $ 0,1142) sell at the resistance line( $ 0,2453) or sell with the EngineeringRobo' s sell signal and try to catch EngineeringRobo' s buy signal after you buy it watch carefully EngineeringRobo' s sell signal It is not a good idea to hold this coin at the moment Unfortunately, EngineeringRobo gave Sell 1 & Sell 2, Bear, Hell and Sell 3 to Bitcoin, I am not strongly recommending to buy any altcoins at the moment Have a good trade If you want to use EngineeringRobo please dm me.
by hollyphoenix
Ontology Gas Potential for GrowthOntology Gas (ONGBTC) is moving back above MA200 today... MA200 is the black line on the chart. This indicator line represents an important level for altcoins trading pairs when looking at the daily timeframe. When prices are trading below MA200, we cannot see strong growth take place and prices are likely trending lower... But, when we have prices for any pair trading above this line daily, the doors are open for strong growth. Now that ONGBTC is moving back above MA200, it is likely that we will see more up. Note: This is an early signal. Cancel closure is needed for confirmation. Namaste.
Long
by AlanSantana
1
ONGUSDT clockwise breaking down the channelsHi folks hope you are good and welcome to the new update on Ontology Gas Token. This token has surged more than 430%. We will try to understand how this token completed the bullish set up before making this powerful bullish move and how the price can behave next. A big bullish Butterfly setup: On 7th January 2020 I posted an article on tradingview and you can see that I predicted that the price action of Ontology Gas token has completed a bullish Butterfly and entered in the potential reversal zone. When I published my post the price action already had hit just a spike in the PRZ level and it was moving above the potential reversal zone area. In the first week of Jan 2020 the price action started moving up and produced more than 215% gains and again dropped in the potential reversal zone. Then again in the first week of April the price action started the next bullish rally and produced more than 430% bullish rally. Movement in up channel and obvious signals for breakout: Before this powerful bullish rally the price action gave two other obvious signals for the breakout. On the daily chart the priceline was moving in an up channel since after the mid of March 2020. If we watch the directional movement indicator then the +DI crossed up the -DI on 19th March 2020 and since then the positive direction indicated did not cross down the negative direction indicator. And ADX was also continually moving up that was a very strong signl for the break out. And if he watch the moon phases indicate then after continuously strong spikes by the price action. Finally the new full moon was appeared at a long altitude that was another very clear signal that the price action can easily reach up to this level. All SMAs are broken out: Now if we watch on the daily chart the price action has broken out the simple moving averages with the time period of 25, 50, 100 and 200. At this time the distance between the moving averages and the price action is very big. Therefore if the price action will start correction rally up to the nearest available simple moving average to have some support then it can be a really big drastic drop. However, if simple moving averages will be moved up to provide the support to price action then this drop can be avoided. The EMAs are broken out: If we watch the exponential moving average with the time period of 10 and 21. Then the price action has also crossed up these moving averages as well. These moving averages are faster than the simple moving averages. Therefore these EMAs can provide the support very soon before the simple moving averages. And unless these EMAs will be not broken down we can expect that the bullish rally will be continued. Up channel on hourly chart: Now if we switch to the small-time period then after the breakout the price action formed an up channel on the hourly chart and recently the price action has broken down the support of this channel. Expected parallel channel formation: After breaking down the up channel on the hourly chart the price action is likely to form a new parallel channel. We can see 100 and 200 simple moving averages supports below this expected channel. AndM and both moving averages are moving up. Once they will be reached close to the price action then the priceline of Ontology Gas will have more strong support. Here we can make the 200 simple moving average on hourly chart as stop loss. Because if this support will be broken down then price action can move more down up to at least 25 simple moving average on the daily chart. And that is almost 36% down from the current level. Conclusion: Even though the price action has surged more than 690%. But the price action is breaking down the different channels clockwise. Therefore taking care of stop loss is very important. However, if the price action will not break down the current channel then we can witness a further upward move after breakout.
by moon333
1