Quarkchain
A possible uptrend for Quarkchain QKC short term trade.Question: Do you like this trade idea? Please give it a thumbs up! I would love to know if it was useful for you! If you can do so, I am thanking you in advance!
Looking at QKC, which I’m not a fan of, so this should surely be short term and of course using Stop Loss is protecting us anyway.
The reason I post this, is because it could go fast, but beware: this is not an active set up just yet. I will update the idea.
Impulse system is green: MACD-H and fast EMA are up, and this allows us to trade if we see a possible setup.
What do I see?
MACD-H just drawed a bullish divergence, although it’s already 10 bars ago, and although MACD-H is rising again, we’ve seen it weakening in between.
There is some resistance, and I’ve drawn this line also because it would confirm if we cross it, we’re also out of the downtrend.
ADX is going very strong, and ADX is about to cross the -DI line.
RSI has become very bullish and we have to see if this is persisting.
The Stoploss is set somewhat below the then broken resistance, protecting us from market noise. It’s a short term trade, and if we break this support, the trade setup becomes invalid.
The proit target 2 is the aim, and when we’ve broken the resistance fully, the stoploss will be raised to right below this new support level.
Note: The second profit target is far away, and we need to monitor the trend to see if this can be realised, or that we get out before (partially) at target 1.
Risk Reward Ratio:
Entry level: 0.00002185
profit target 1: 0.00002447
profit target 2: 0.00002658
Stop Loss: 0.00002085
R/R ratio: profit target 1: 1:2.5
R/R ratio: profit target 2 1:4.7
