Loom has been making big moves as there is a lot of hype around this coin, so big money can be made day trading this, if played right. I caught the first big ride up for a nice 30% gain in a day before I pulled out (New coins are always riskier plays, regardless of fundamentals).
YELLOW BOX = High probability for a reaction there for a nice scalp. Not strong enough to find new highs in my opinion.
BLACK TRENDLINE = Now we have more data on this coin, we can see we have created a nice pennant, so I will be long when we retrace down to this trendline, where i'll be riding it up to the top for big gains. REMEMBER THIS TRENDLINE IS CURRENTLY OUR STRONGEST SUPPORT SO UNTIL WE SEE BIG BULL VOLUME, BE WATCHING CAREFULLY.
GREEN BOX = We may wick through the trendline into this green box where you can be sure the bulls will be strong to push it back up. This is also our last main support, so keep that in mind.
*Not financial advice, only sharing my opinion and what ill be looking for at this point in time.*
YELLOW BOX = High probability for a reaction there for a nice scalp. Not strong enough to find new highs in my opinion.
BLACK TRENDLINE = Now we have more data on this coin, we can see we have created a nice pennant, so I will be long when we retrace down to this trendline, where i'll be riding it up to the top for big gains. REMEMBER THIS TRENDLINE IS CURRENTLY OUR STRONGEST SUPPORT SO UNTIL WE SEE BIG BULL VOLUME, BE WATCHING CAREFULLY.
GREEN BOX = We may wick through the trendline into this green box where you can be sure the bulls will be strong to push it back up. This is also our last main support, so keep that in mind.
*Not financial advice, only sharing my opinion and what ill be looking for at this point in time.*