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The finger pattern shows up for Stratis, when it’s again reaching the support level. It has been lower before, and it could fall through this support.
What do I see?
The impulse system is yellow, this means, MACD is up. Although the EMA’s are down, we are allowed to buy.
A finger pattern and the bar on the right is about to close above the bar in the middle with the finger sticking out further down.
Looking at DMI, we’re of course not doing well, with -DI on top and +DI at an all time low.
We can wait for +DI to curl up, but this would mean higher prices, but yes, less risk.
We can also buy in and go with the flow, because often times the long wig at the bottom means reversal.
RSI shows it is crossing the reference line and is about to go up. This is a good sign.
As you can see it is showing lower lows, all the way to this low bottom, but I expect the reversal sign of a finger to be stronger and therefore RSI going up.
The Stop Loss is set at the height of half way through the tail. When we go there, we’ve gone through support and the market then tells us it really wants to go that way. Or it will be a stop loss killer. I might set an alert, instead of a stoploss, but the result is the same, I will act.
The first target will be the pullback to EMA, as we are in a downtrend, and it is possible that the 22 day EMA will be a too strong resistance. I will raise my stop loss when we are there.
The next target is the next level of resistance, and again for the last target. The last target is only valid when the reversal is a total reversal and the bears has been replaced with bulls, converting this market into an uptrend.
Risk Reward Ratio:
Entry level: 0.00004750
profit target 1: 0.00005345
profit target 2: 0.00006080
profit target 3: 0.00007500
Stop Loss: 0.00004400
R/R ratio: profit target 1: 1:1.8
R/R ratio: profit target 2 1:4.6
R/R ratio: profit target 2 1:9.5
The finger pattern shows up for Stratis, when it’s again reaching the support level. It has been lower before, and it could fall through this support.
What do I see?
The impulse system is yellow, this means, MACD is up. Although the EMA’s are down, we are allowed to buy.
A finger pattern and the bar on the right is about to close above the bar in the middle with the finger sticking out further down.
Looking at DMI, we’re of course not doing well, with -DI on top and +DI at an all time low.
We can wait for +DI to curl up, but this would mean higher prices, but yes, less risk.
We can also buy in and go with the flow, because often times the long wig at the bottom means reversal.
RSI shows it is crossing the reference line and is about to go up. This is a good sign.
As you can see it is showing lower lows, all the way to this low bottom, but I expect the reversal sign of a finger to be stronger and therefore RSI going up.
The Stop Loss is set at the height of half way through the tail. When we go there, we’ve gone through support and the market then tells us it really wants to go that way. Or it will be a stop loss killer. I might set an alert, instead of a stoploss, but the result is the same, I will act.
The first target will be the pullback to EMA, as we are in a downtrend, and it is possible that the 22 day EMA will be a too strong resistance. I will raise my stop loss when we are there.
The next target is the next level of resistance, and again for the last target. The last target is only valid when the reversal is a total reversal and the bears has been replaced with bulls, converting this market into an uptrend.
Risk Reward Ratio:
Entry level: 0.00004750
profit target 1: 0.00005345
profit target 2: 0.00006080
profit target 3: 0.00007500
Stop Loss: 0.00004400
R/R ratio: profit target 1: 1:1.8
R/R ratio: profit target 2 1:4.6
R/R ratio: profit target 2 1:9.5