RENUSDT trade ideas
REN moving towards 3rd impulse of EWWe can see RENUSDT4h is in a current uptrend and is starting to make the 3rd impulse of an Elliot Wave having bounced off the 0.618 fib retractment. If the current trend moves above 0.65 (1st Impulse) then we should move up to peak of the 3 wave which is the 1.618 fib ext before retracing back to 0.65 before the final impulse.
These are just my ideas, not financial advise. Please DYOR.
Im still learning so happy to hear your ideas.
RENUSDT trade setupTrade setup for RENUSDT.
REN broke out of the supply line today and is now retesting the ATH from September '20
Wait for entry once we get a bounce from that area. Breaking this high to the downside at $0.59 area will probably take price down to $0.50 and even all the way down to $0.35 which is a 88% retracement.
However this retracement could end up being a bullish bat, which will be a nice entry point. I will be following price action on REN and update if this plays out.
Entry : $0.612
Stop loss : $0.559
TP1 : $0.77
TP2 : $0.86
TP3 : $1.1
Risk warning, volatility is rising so make sure you put in a stop loss.
No FA DYOR
The new simple anatomy of my tradesHello traders, here is a diagram of my analysis or strategy that may help some traders moving forward. I have combined various pieces of information from talented traders and it has helped me to see the market more clearly. It consists of an accumulation followed by a manipulation which leads to a range expansion. I seek the inside W which is the breaker block just before manipulation. If prices show weakness in momentum, in the direction of the manipulation, and the price is turning at the Premium zone after the manipulation phase, all these elements must exist to confirm a trade, I place an order just after the 62.00% Fibonacci. I then trail it down until my stop is taken out or the 100% is completed. I place my stop at the opposite 100% High and move it down depending on which target has been reached. The opposite is true for longs. I hope this helps. Good luck!
RENUSDT 1 HOUR SHORT TRADEHello Traders, REN/USDT created a quick break of structure to the downside on opening, but soon reversed to the upside. Buyers could become exhausted around the premium sell zone and price could continue with a move to the downside. Targets are on the chart. A stop has been provided, though this will depend on your trading style. Good luck!
Long Ren
Hey Guys,
how are you?
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TP1 = 1.23
TP2 = 1.54
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leave comments.
bullish REN_updateon some very strong support.
risky traders can buy now but you can also buy when it breaks the down trend channel.
RENUSDT is on the bearish trend line Price should be watched carefully to potential breakout or decline for potential trades.
$REN preparing to breakout from the descending channel.$REN
Testing the upper side of the descending channel.
Might retest the median zone of the channel.
The retest at $0.7 level was clean and with increasing volume.
Currently, the volume is increasing as well.
RENUSDT CAN BE BREAK STRONG RESISTANCE? If it can break down the downtrend, which is a strong resistance, it can move to the above - mentioned items.
