STORJBTC Poloniex testing MA400 daily - buy opportunity
Diupdate
STORJBTC broke MA400 and is now testing again.
15Feb candle was closing above previous day's Donchian Channel upper line - suggesting new uptrend which is still valid.
If MA400 holds this is a strong bullish sign and we can expect new resistance (0.000094) to break and go to next resistance (0.000135) which is 1.618 fib level of previous bullish swing.
Strategy can be to buy now e.g. 50% - set stop loss to 1R ATR (0.000066-0.0000064 equal to under 0.00006) or when daily candle closes below previous day's lower line of Donchian Channel. Whichever is earlier.
If MA400 holds for a few days or reversal daily candle pattern may develop another portion can be added with same stopping rules.
TP under 0.000135 - e.g. 0.00013199.
Any comments are more than welcomed! Thank you and please make sure you only trade with money you can afford to lose! Trade carefully!
15Feb candle was closing above previous day's Donchian Channel upper line - suggesting new uptrend which is still valid.
If MA400 holds this is a strong bullish sign and we can expect new resistance (0.000094) to break and go to next resistance (0.000135) which is 1.618 fib level of previous bullish swing.
Strategy can be to buy now e.g. 50% - set stop loss to 1R ATR (0.000066-0.0000064 equal to under 0.00006) or when daily candle closes below previous day's lower line of Donchian Channel. Whichever is earlier.
If MA400 holds for a few days or reversal daily candle pattern may develop another portion can be added with same stopping rules.
TP under 0.000135 - e.g. 0.00013199.
Any comments are more than welcomed! Thank you and please make sure you only trade with money you can afford to lose! Trade carefully!
Trade aktif
Catatan
It is really on the fence to be stopped out. Let's see today's closure. IF daily price closes below 0.00006 this would meet both stop criteria so eventually then the trade must be closed.Catatan
Wanted to add that the 4 H chart looks rather interesting. It is below 4H MA200 but may be forming a falling wedge. The 4H MA200 is well aligned with the daily MA400 - which carries way more weight.4H RSI is oversold.
IF daily were closing above MA400 after breaking the falling wedge - this would be interesting enough. This has low probability though.
Trading ditutup: stop tercapai
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