So Yesterday i posted a long and short idea. But those are out of the window now.
CWARUSDT exceeded my target and is showing strength.
At the moment we are consolidating in a small range below resistance (considered bullish)
We rejected from the 4h Order block and Global Value area low, also closed below the VAL. This VAL is a KEY level for me, see a reclaim, then we can expect mayor upside.
If we see a reclaim of the VAL then my next target would be 0,92 cents. But this all depends on what BTC and CWAR:BTC does.
Possible scenarios would be to backtest the top of the channel, golden pocket fib and Daily level as confluence for a bounce up.
But if we see a weak reaction from the level and acceptance back into the old channel, then i am looking to take it down to the channel low and keep going in a range. Opened to both ideas. I took a long from yesterdays idea and took most of my profits out.
Also a thing to keep in mind is that these kind of pumps are not healthy for an asset. As we do not build up a lot of support on the way up.
I rather have an asset move up slowly than pumping it like crazy. That gives me data, levels to trade from. But thats my personal opinion.
No financial advice, papertrades only.
CWARUSDT exceeded my target and is showing strength.
At the moment we are consolidating in a small range below resistance (considered bullish)
We rejected from the 4h Order block and Global Value area low, also closed below the VAL. This VAL is a KEY level for me, see a reclaim, then we can expect mayor upside.
If we see a reclaim of the VAL then my next target would be 0,92 cents. But this all depends on what BTC and CWAR:BTC does.
Possible scenarios would be to backtest the top of the channel, golden pocket fib and Daily level as confluence for a bounce up.
But if we see a weak reaction from the level and acceptance back into the old channel, then i am looking to take it down to the channel low and keep going in a range. Opened to both ideas. I took a long from yesterdays idea and took most of my profits out.
Also a thing to keep in mind is that these kind of pumps are not healthy for an asset. As we do not build up a lot of support on the way up.
I rather have an asset move up slowly than pumping it like crazy. That gives me data, levels to trade from. But thats my personal opinion.
No financial advice, papertrades only.