PenMightier

NEOBTC Mean Reversion: 22% Profit Potential

Long
BINANCE:NEOBTC   NEO / Bitcoin
BINANCE:NEOBTC Alt coins are running and NEOBTC is due for a great run, brought to you by the Macro to Micro Trading Strategy.

The chart indicates that the most over-expanded period on the daily timeframe is the 55-period price mass. This is a mean reversion approach that combines analysis of price action and most importantly, price mass, thereby offering a high probability trade towards the daily 55 period mean.

The condition for the trade, the entry of price into the mass of the most over-expanded period, has been met. The signal is a corresponding CCI indication of a tenth of this period - trade will only be active when this is fulfilled. This idea will be updated to signal when the trade is active or has hit the stop-loss.

With any high probability trade, always respect your trade and risk management. The stop-loss is triggered with a close below it on the 4 hour chart.

Patience, high probability strategy and smart risk management are your best tools in trading. Happy hunting!

This trade idea describes my thoughts - consider entry entirely of your own volition.
Trade closed: target reached: The trade took off faster than I could update. Congratulations to everyone who took part!

The Macro to Micro strategy is a defining strategy for price action. It does not rely on derivative information such as bull flags, nor on static resistance and support lines.Instead, it employs the far more powerful concepts of volatility theory to achieve key pivot points, realised through Bollinger Bands and active price mass readings.

Follow my TradingView Ideas to see more in the future. Happy hunting!

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