Link seems to find itself in a really large daily channel. Right now we are just below the mid range, a pivotal level. Coming from channel low it has to beat the mid to make a possible run up otherwise downside is likely.
Comment:
Last time trend did retest the mid channel.
Last time trend did retest the mid channel.
Comment:
If we break upside look for the same thing. This means a wick down towards the mid and topside triangle and a 1h close above. That should be a long trigger as long as bitcoin behaves. Stop below lh in triangle and 4 tp's to the upside best ratio would be 40-30-20-10
If we break upside look for the same thing. This means a wick down towards the mid and topside triangle and a 1h close above. That should be a long trigger as long as bitcoin behaves. Stop below lh in triangle and 4 tp's to the upside best ratio would be 40-30-20-10
Comment:
Another idea is a short, if Link fails to close above mid channel. Triangle break would open us up to take that trade.
Another idea is a short, if Link fails to close above mid channel. Triangle break would open us up to take that trade.
Comment:
Need to see it start closing above risistance otherewise its looking for a short especially with the possibility of a btc breakdown. We are over 60% in triangle likely the trendline will break.
Need to see it start closing above risistance otherewise its looking for a short especially with the possibility of a btc breakdown. We are over 60% in triangle likely the trendline will break.
Trade active:
In a short position, trigger was wick on 1h again in the region with a close below.
In a short position, trigger was wick on 1h again in the region with a close below.
Comment:
Trade closed: target reached:
Closed for 9%, never hit last tp instead hit moved up stop.
Closed for 9%, never hit last tp instead hit moved up stop.
Comment:
On the LTF we are forming what looks to be like a ascending triangle which could mean upside continuation. Volume on the run ups is decent.