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XEMBTC

XEMBTC - Looks like a breakout is coming to the upsideLooks like a breakout is coming to the upside. In around 0.00010600, setting a stop-limit at 0.00009600 (take profit before the 0.00013500 mark to be safe). This is just an idea (I am not a professional and no one should blindly take advice), everyone should be doing their own analysis and make their own decisions. This is my first time publishing an idea, let me know your thoughts and comments, I am always looking to better my analysis and will try to provide the best ideas I can. Thank you.
by Ideas4Crypto
6
XEMBTC Market ReviewA daily summary of the previous day’s market activity and review of current state of market on Cryptos. Analysis Daily Time Frame read On the daily TF after the price breached the green ray we are in overall buyer’s territory and holding above we got some pullback to buy to the nearest S & R (Orange Ray) and buyers gobbled up the discount. We have a entry at the orange ray and market started moving up. We have breached the red ray and I can see some wicks on top showing some selling pressure, apart from the selling pressure buyers made a High on the daily candle, at that time I anticipated some sellers coming up back to the orange ray to make further buying but it didn’t happen. We have to wait for the pullback and then prepare for buy. This can be a few days time taking trade. As of now no entry on the daily as I don’t see any room to buy because there are few hurdles (Resistance) I could see to do a buy. 240H Time Frame read On the 240H after price breached the orange line we got some selling coming in and buyers gobbled up and then broke the resistance the red line and stood above. The last seller is taken out by the buyer but the power seems less. Sellers came in one candle and buyers came up with 3 candles and the 4th candle with a wick on the top. This could be a stop hunter as I can see a resistance on the weekly. I anticipate some pullback to do a buy If not there is no trade from me because we should not chase the market. Entries, Exits No entry for me unless I see some pullback coming in to the orange ray. Aggressive Entries and Stop loss If you are quite aggressive in nature and don’t want to lose few Sats then you can enter the trade once the price come down to red line and leaves a big wick on the bottom. SL below the wick. Conservative Entries If you are conservative in nature then you can enter the trade once we get pullback to the orange line and then leaves a wick at the bottom, come up aggressively and then holds there for a bit and then making a miniature HH then you can enter the trade and SL below the wick or Orange ray. If price don’t come until there leave the trade let it go off, why buying so high. We need pullbacks to buy. Risk Management • If you are an aggressive trader you can risk 2% of your capital on this trade. Tight SL below Red ray. Position Size should be calculated based on 2% of the capital/SL by Sats. RR should be at least 1:2; I am not specifying any targets as of now because the entry is speculative atm. HODL overnight not more than that because BTC market is speculative atm. • If you are a Conservative trader you can risk 1% of your capital on this trade. Wider SL below the wick under Orange Ray. Position Size should be calculated based on 1% of the capital/SL by Sats. RR should be at least 1:2;
by ReddyShyamShankar