Divergence on all exchange volume played out as expected causing a retracement here.
Looking for a long entry down towards the upward trend line of the large ascending triangle pushing up to the 2940 level.
Setting buys for DCA at 2600. 2500. 2400, 2300 looking for an average entry around the pocket between 0.5 and 0.68 Fib level of the last run up.
Target 1: 0.00003700
Target 0.00004667
RR: 4.7:1
SL 2070, or more aggressive under the support at 2250
Looking for a long entry down towards the upward trend line of the large ascending triangle pushing up to the 2940 level.
Setting buys for DCA at 2600. 2500. 2400, 2300 looking for an average entry around the pocket between 0.5 and 0.68 Fib level of the last run up.
Target 1: 0.00003700
Target 0.00004667
RR: 4.7:1
SL 2070, or more aggressive under the support at 2250
Trade active:
4 out of 6 limit buys filled. Long trade active.
Trade active:
All buy limit orders filled - Average DCA entry 0.00002400.
Comment:
Looking good for holding this position. We broke the downward trend line and retested it. Strong bullish divergence on volume. Inverse head and shoulders pattern forming. Looking now for a break above 0.00002550 with target of the head and shoulders pattern of 0.00002950 (20% profit).
Comment:
15% profit hit. Taking a small bit of profit, trailing stops to Break even @ 0.00002400.
Comment:
42% profit hit, taking a little more profit here. Raising stops to 0.00002900. More run up expected!