RLCUSDT
RLCUSDTentry: around 2.18
TP1: 2.55
TP2: 2.79
TP3: 2.93
TP4: 3.11
SL: 1.8752
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RLC formed BAT move for up to 27% rallyHi friends, hope you are well and welcome to the new update on iExec RLC token.
On a small time period 4-hr chart, the price action of the RLC has completed the final leg of bullish BAT and spiked in the potential reversal zone. It may give us another chance to catch from the buying zone before starting the bullish rally.
this trade has profit possibility of 27% and the loss possibility is only 4%
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with the trade
RLCUSDT (RLC) - UPTREND CONTINUATION ANALYSIS 🔎
- RLCUSDT pumped and hit a swing high.
- Price then retraced for a retest of the flip horizontal support and 0.618 fibonacci retracement level.
- Price action printed the double bottom trend reversal pattern at the retest area.
- Price brokeout above the double bottom neckline resistance.
- Price action is printing an ascending triangle pattern.
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the ascending triangle's horizontal resistance.
TARGETS 🎯
- Horizontal resistance level R1
- Horizontal resistance level R2 (swing high).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending triangle's inclined support.
🆓iExec RLC/USDT Analysis (2/2) #RLC $RLCRLC has conquered 1.2$ zone and this will be a step to help RLC increase strongly this February to $2 and $2.6 zones.
📈BUY
-Buy: 1.17-1.23$. SL if B
-Buy: 1.37-1.43$ if A. SL if B
📉SELL
-Sell: 1.9-2.0$. SL if A
-Sell: 2.6-2.7$. SL if A
♻️BACK-UP
-Sell: 1.17-1.23$ if B, SL if A
-Buy: 0.95-1.0$, SL if B
❓Details
Condition A : "If 1D candle closes ABOVE this zone"
Condition B : "If 1D candle closes BELOW this zone"
RLCUSDTA volume diversion bar has formed on the daily chart. Fractal is above the 13ema and price has pushed into the high/low 5ema channel without crossing the high. Price is above the 200ema and RSI above 50, which tells us this is an up-trending market. The first target is the last fractal high or a volume diversion bar to the downside. A stop will be placed below the prior daily candle 13-01-2021. Enter on today's candle 14-01-2021. Good luck!