THETAUSDT trade ideas
THETA - Chartupwards trend, support has shown - long term trade
A support trend line is formed when a securities price decreases and then rebounds at a pivot point that aligns with at least two previous support pivot points. Similarly a resistance trend line is formed when a securities price increases and then rebounds at a pivot point that aligns with at least two previous resistance pivot points. Stock often begin or end trending because of a stock catalyst such as a product launch or change in management.
Trend lines are a simple and widely used technical analysis approach to judging entry and exit investment timing. To establish a trend line historical data, typically presented in the format of a chart such as the above price chart, is required. Historically, trend lines have been drawn by hand on paper charts, but it is now more common to use charting software that enables trend lines to be drawn on computer based charts. There are some charting software that will automatically generate trend lines, however most traders prefer to draw their own trend lines.
When establishing trend lines it is important to choose a chart based on a price interval period that aligns with your trading strategy. Short term traders tend to use charts based on interval periods, such as 1 minute (i.e. the price of the security is plotted on the chart every 1 minute), with longer term traders using price charts based on hourly, daily, weekly and monthly interval periods.
However, time periods can also be viewed in terms of years. For example, below is a chart of the S&P 500 since the earliest data point until April 2008. While the Oracle example above uses a linear scale of price changes, long term data is more often viewed as logarithmic: e.g. the changes are really an attempt to approximate percentage changes than pure numerical value.
Previous chart from 1950 to about 1990, showing how linear scale obscures details by compressing the data.
Trend lines are typically used with price charts, however they can also be used with a range of technical analysis charts such as MACD and RSI. Trend lines can be used to identify positive and negative trending charts, whereby a positive trending chart forms an upsloping line when the support and the resistance pivots points are aligned, and a negative trending chart forms a downsloping line when the support and resistance pivot points are aligned.
Trend lines are used in many ways by traders. If a stock price is moving between support and resistance trend lines, then a basic investment strategy commonly used by traders, is to buy a stock at support and sell at resistance, then short at resistance and cover the short at support. The logic behind this, is that when the price returns to an existing principal trend line it may be an opportunity to open new positions in the direction of the trend, in the belief that the trend line will hold and the trend will continue further. A second way is that when price action breaks through the principal trend line of an existing trend, it is 'evidence' that the trend may or may not be going to fail, and a trader may consider trading in the opposite direction to the existing trend, or exiting positions in the direction of the trend.
THETAUSDT - Buying timing of CP patternBYBIT:THETAUSDT
1H trend chart
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THETA is forming a cup and handle pattern.
Now it broke the upper downtrend line but left a shadow line in 1H chart
If price can keep here w/o wicks top, trading strategy as below.
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Profit Targets:
a) 7.198~7.280----Fib(1.272~1.382)
b)7.454----Fib(1.618)
c) 7.737----Fib(2)
Stop losses:
a) 6.638-----Red horizontal ray
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THETAUSDT Technical Analysis⏳ Spot
💎 THETAUSDT after the rejection from the support zone it has been making HHs and HLs. The price is moving to the resistance zone. We might see a rejection at the resistance but after the breakout it will continue to go higher.
🌐 Tradingview
💵 Invest Only 5% of your Portfolio
🎳 Entry/Pullback now or from 6.652 - 6.084
☕️ TP1 7.255
🍺 TP2 8.506
🍻 TP3 10.052
🍾 TP4 11.353
🍷 TP5 12.850
🍸 TP6
🍹 TP7
🎁 TP8
🚫 SL 6.084 -5.487
Good Luck 🎲
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GL
EntryPoint:
6.819
6.584
Supports:
5.837
5.163
4.353
Resistance:
7.651
Targets:
8.571
10.595
14.315
21.017
For mid time and HODL:
34.207
44.155
63.626
GL
THETAUSDT 1D - READY FOR MOON !!THETA (Daily Chart) - Technical Analysis
Hello Guys, don't forget with this coin for ALT Season.
THETA will make strong move after break the mayor trendline. As you seen previously, THETA was rejected 4 times in mayor trendline.
It means, the trendline is now starting to weaken.
So buy the dip before bullish again, our target is fibonacci 1.618
Entry Point :
6.00- 6.90
Target 1 - 8.76
Target 2 - 10.90
Target 3 - 13.40
Target 4 - 15.80
Target 5 - 19.70
Stop Loss : 4.90
Keep in mind leverage trading can be highly risky, trade with not more than 5% of your funds in leverage trades.
*Not financial advice.
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Quickpost on ThetaTheta has finally broken its resistance and I see a lot of upside for the rest of the year, maybe into Q1 next year. I am looking to take profit at about $40 and if/when I see some consolidation patterns I will double up at major fib levels with some of the margin I create in the move.
Quick look at technicals
We are above the SMAs on this break out and the MACD is positive and above the signal line, and both are above zero. Also, the 9 seasons rainbow shows we have established a base and afterwards have established a clear uptrend.
On a higher time frame the volatility indicators suggest we are in a uptrend and we have broken above the 20SMA.
On the 4 hour we can see that the price action has retested the resistance line as support. It may need to retest further but the lower time frame volatility is likewise favoring a uptrend.
Trade Management
I am keeping my stop where it is for now until it seems that the chop around finding support on previous resistance is done then I will move my stop loos to guaranteed profit while I let this run. I do expect more chop around each fib level as we move up but I have a good entry for what I feel is a good RRR on a long shot.