If price on the 0.5 level (321.7 BUSD) breaks down I have a long position ready on the smaller 0.5 level (296.8 BUSD). I would like to see a bounce on that support which acted as resistance at least twice before. This is on the daily chart ( Each candle represents one day). Trade Idea: Entry: 296.8 Stop loss: 282.1 (5% drop from entry) Take Profit: 337.0 (13.37%...
1) I started out by drawing the bottom dotted trend line of 2-3 lows then cloning that line and placing it above of 2-3 highs. 2) Then I used the fibonacci tool from a high to low and it looked like those areas respected some supports and resistances. 3) By that time it looked like there was a break of structure in the downtrend from the 0.236 to the 0.786 fib...
This is a theory from Gareth Soloway from when he appeared on Kitco News on Youtube ( www.youtube.com ) I'm going to keep an eye on this and maybe start to take small profits from altcoins between the 53k and 59k lines. Worst case scenario in my opinion is that we revisit the 28k-32k range in late Q1 or early Q2. I will have BTC limit buy orders set starting...
I think the graph pretty much explains it self. Bounce off the 0.618 fib level before going long.
The FTT token is well above the 50% fib level which shows me strength, it's breaking out of the purple orderbox and starting to test the resistance of the triangle. I would like to see a break out and a re-test before going long. Fundimentals as a long-term investment is also looking good so I'll go long whether it re-tests the breakout or not.
My first published trade so I'm not sure what to write except that I saw an ascending triangle pattern and when it had a close above it confirmed it was bullish so therefor it's a long trade.