STXUSDT.P Long TradeSTXUSDT.P might go up but and reject around 0.9656 on the 4H chart.
Harmonic Pattern Indicator on the 4H is suggesting that their might be a potential dolphin pattern that might hit the order block around the 1.000 mark.
Although their is an ongoing G pattern in effect on the 4H chart, I think this might not push thru as the price has already rejected at 0.6763 and is looking to go up.
On the 1H chart a Bullish Dolphin might happen at 0.7825 which will be my entry point for a long position.
So, the bullish dolphin on the 1H complements my plan on the 4H chart wherein it might go up to the 1.00 mark
Possible Entry : 0.7825
SL: 0.7562
TP: 0.9619
R/R: 6.82
STXUSDT trade ideas
STX: Falling Wedge BreakoutTrade setup : Price reached $1.30 where price got rejected and pulled back. It was consolidating in a Falling Wedge pattern and had a bullish breakout, which could indicate a potential trend reversal to Uptrend with upside to $1.05 or even $1.30. Next Fibonacci retracement support level is $0.70 (78.6%) and the next horizontal support level is $0.60.
Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order.
Trend : Downtrend on Short-Term basis, Neutral on Medium-Term basis and Uptrend on Long-Term basis.
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).
Support and Resistance : Nearest Support Zone is $0.55. The nearest Resistance Zone is $1.05, then $1.30.
Stx Breaking Falling Wedge Stxusdt
Based on my analysis of the Stx chart in the 4-hour timeframe, I have identified a bullish chart pattern known as a "Falling Wedge". This pattern is characterized by a series of lower highs and lower lows that converge into a point, forming a wedge-like shape that slopes downwards. The pattern is usually followed by a breakout to the upside, which could potentially lead to a significant price move.
Currently, Stx is trading within the Falling Wedge pattern, and it appears to be approaching a key resistance level that could trigger a bullish breakout. If the price manages to break above this resistance level and close above it, it would be a strong indication that the bulls have taken control of the market.
Assuming that the breakout is successful, I would expect the price of Stx to move towards the HKEX:1 level, which is a significant psychological resistance level. This level has not been tested since 2018, and if the price manages to break above it, it could trigger a new wave of buying that could potentially push the price even higher.
However, it's important to note that trading is always subject to market volatility and unexpected price movements, so there is always a risk involved in any trade. Therefore, it's crucial to set stop-loss orders to minimize potential losses and to have a solid risk management strategy in place. Additionally, it's essential to keep an eye on any news or events that could affect the price of Stx, such as new partnerships or regulatory changes.
STX Long & Short Ideaeverything is explained on the chart, comment if you doubt anything.
STX will fly once it breaks out the trendline. however, be aware of losing the ascending bottoms..
you can flip short as we are heading to the week if ONLY it breaks down the SL mentioned on the chart.
feel free to share your thoughts!
GL ALL.
STXUSDT HIT HIS FIRST TAKE PROFIT "Based on my analysis, I believe STAX (STX) has strong potential for SHORT term growth. I recommend considering SHORT position with a buy entry point at . My target for taking profits is at . Please note that investing in cryptocurrency involves risks and it's important to do your own research and make informed decisions. #Ethereum #Crypto #Investment"
Remember to always provide a disclaimer that investing in cryptocurrency carries risks, and it's crucial for individuals to conduct their own research and make informed decisions based on their own risk tolerance and financial situation. Additionally, please make sure to comply with any applicable laws and regulations related to financial advice or investment recommendations in your region.
$STX: Anticipated Breakout; Divergence Signals, and Fib zones
On the daily, the RSI is within a symmetrical triangle, indicating an anticipated breakout by May 11.
It would be ideal if STX closes the daily candle above $0.82 today, as it aligns with my previous Fibonacci expectations, as indicated on my TradingView chart (link: ).
My divergence indicator shows a divergence based on the commodity channel index and identified support zones.
Being transparent, I cannot provide a clear guideline at the moment. While I lean towards quick upward price movement, there are multiple factors at play, and a broader perspective is needed. It all depends on the king (referring to Bitcoin), which is currently experiencing resistance at 30.4k and has corrected to the baseline of the Bollinger Bands. If it can establish a baseline there and continue its upward momentum to FWB:36K , we might see a bottom forming soon and some quick price developments.
STX- Stacks Possible position trade Good day, fellow traders
As you can see STX is in a nice position for a possible reversal and further upward movement. The position is favorable, with better management of risk reward.
A wave 5 is surely on the cards.
As always trade safe and nobody can see the order book.
P.S BTC movement will help or stall
Good luck and have Fun