OXTUSD trade ideas
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
L to .65 - Could short in red but looks good if in greenI got in at .52 and have really been thinking we would get another run due to some of the shakiness of bitcoin. Hopefully it can double bottom at 10,500 and give us another leg up.
Dont listen to me im being hopeful , small position little riskDont listen to me im being hopeful , small position little risk
Extremely new but is this a double bottom reversal?New investor not financial advice, is this a double bottom reversal?
OXT looking tiredI was looking for a massive upward move by OXT, but at this time its looking worn out. OXT usually does like to dump down completely after a spike.
Bears would actually do well here since everyone is so bullish and excited on this coin.
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
