BAT is about to breakout or bounce of the support
I'm just studying TA, this is my first idea to publish and it has some blanks. E.g. how to to pick a stop loss for Scenario 1? Will appreciate advice
BATBTC is near the strong resistance at around 4700 sat. Also RSI is near oversold value.
Two possible scenarios for the next hours:
1. Break through downward channel resistance line. Buy on pink line break. Take profit: 5600 sat (50% correction) Stop loss: ??
2. Dive more and bounce up from the resistance line at around 4700 satoshis. Buy on the bounce. Stop loss at 4610. Take profit: 5600 sat (50% correction)
BATBTC is near the strong resistance at around 4700 sat. Also RSI is near oversold value.
Two possible scenarios for the next hours:
1. Break through downward channel resistance line. Buy on pink line break. Take profit: 5600 sat (50% correction) Stop loss: ??
2. Dive more and bounce up from the resistance line at around 4700 satoshis. Buy on the bounce. Stop loss at 4610. Take profit: 5600 sat (50% correction)
Comment:
Scenario 2 still valid
Comment:
haha.. just noticed I messed up resistance with support in my original idea :)
Trade active:
TP1: 5600 TP2: 6100 SL: 4610
Comment:
troubles with resistance here.. Is volume too low?
Trade closed: stop reached