OXTUSD
Trading OXT: Has topped & headed for full retraceDisclaimer: This is not financial advice
High leverage trading is all about entries, you need to have patience and to not let fear of missing out drive you into opening rushed positions. Map out your trades in advance and wait for the right entry. Our aim is to capture quick & safe profits, not to predict the future, this is possible only if we plan ahead and wait for a good entry. So if you're nervous and itching to open a position then take a few deep breaths and don't trade!
OXT seems to have just completed a bullish impulse wave that started on July 2nd and has finalised corrective wave A at exactly the 61% Fib level. For those unfamiliar with Elliott terminology, A is the first wave of an ABC correction. B is next, which also seems to have started. We will have a confirmation of this as soon as we break out of the wedge marked by the red lines. The first target for B wave is the 50% Fib level (0.49), this is a good spot for some high leverage shorts. Shouldn't it hold then the next level 31% Fib level at $0.579. Once wave B is completed then wave C should started. The target for wave C, estimated based on how deep A has been, is around 0.168. This means that should the current formation (which I plan to trade) be confirmed then the price should almost fully retrace the gains achieve since July 2. Right now I will wait for wave B to form and will be looking for shorts in the 50% Fib area first and 32% next.
Entry: 0.49 SL: 0.54 TP1: 0.30 TP2: 0.18
OXT Triangle to the moon or middle earth?Symmetrical or descending?
Tight consolidation
No daily bearish divergence
4hr MACD appears to be towards bullish cross
ORCHID (OXT) MAY JUST BE GETTING STARTED...After rising more than 6x in a month, and then falling back, many traders think OXT is done. But all good trend followers know this could be the beginning.
OXT tried to take out the all-time-high but failed. If it makes another attempt, and succeeds, there will be nothing but clear blue sky above the price, and that means no more unpleasant selling pressure from people who bought at the first peak late last year, then HODL'D, lost nearly all their money and are now desperate to sell at their breakeven point. This is one of the psychological factors that often causes stocks/cryptos to soar once they pass their previous all-time-high.
I am waiting for the current short-term pattern to mature and hopefully break out to the upside. If it does, that's when I'll buy, as the risk/reward will offer the possibility of a big win, with my stop-loss ensuring very limited downside.
OXT holding a 15 min and continues to be suppressed by downtrendbullish signs - following uptrend
bearish signs - making lower highs, following downtrend
Short $OXTUSD for $0.28Short $OXTUSD for $0.28
Note: I do not have live trade on this. this is just an idea.
OXT Looking like in a crucial point.Its looking like OXT is in a crucial point, assuming it follows the old addage of filling 80% of its pattern before breaking. This could break to the upside. The wicking and candling do appear as though the market is trying to set it into another bullrun, as Gemini has spiked up to .61 over the past few hours and fallen back down.
OXTUSDT EntryLook to enter off the next higher low, wait for the low to form then show buy signal before entering. Could still double top here or this could still be a B wave and a deeper pull back for a C wave could happen. I do not use EW but on the 3 minute timeframe definitely looks like a five wave pattern up which would indicate possible trend reversal.
OXTContinued correction with hopefully a good bounce from 45 cents. We are in a bull market so overall I am long.
The Content is for informational and entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. This is not financial advice nor am I a financial adviser. :)
Potential bounce in Orchird OXTI’m half expecting this to find support inside the yellow circle. If it starts to trade sideways there, I will be looking for longs with a tight stop as always.
Mcap is tiny so I think we have plenty of room above. We will know for sure in a few days.
