NANO, where will it stop?
Disclaimer: I was waaaay off with my last prediction as I was expecting a consolidation after a massive parabolic run; a good problem to have if you're holding NANO :)
Woke up to the news that NANO continues its bullish run and almost tested resistance at the 148-150k mark. However, we've just seen two lower highs and lower lows on the 30 minute time frame which suggests and equilibrium is forming. That will either take us on to test the 150k resistance again or maybe into a period of consolidation.
My next trade set up:
Entry: 124-135k
1st target: 148-150k
2nd target: above 150k, trailing stop loss
Stop Loss: 115k (good support level, just under the 0.23 fib line)
Note: check the channel developing on the RSI track; will be a good indicator of direction if the channel is broken. The RSI is barely getting below the 50 mark but it seems the range is getting tighter.
Thoughts?
Woke up to the news that NANO continues its bullish run and almost tested resistance at the 148-150k mark. However, we've just seen two lower highs and lower lows on the 30 minute time frame which suggests and equilibrium is forming. That will either take us on to test the 150k resistance again or maybe into a period of consolidation.
My next trade set up:
Entry: 124-135k
1st target: 148-150k
2nd target: above 150k, trailing stop loss
Stop Loss: 115k (good support level, just under the 0.23 fib line)
Note: check the channel developing on the RSI track; will be a good indicator of direction if the channel is broken. The RSI is barely getting below the 50 mark but it seems the range is getting tighter.
Thoughts?
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