WOO Network (WOO) - Oversold + Bullish divergence

On the above 2-day chart price action has corrected 90% since November. A number of reasons now exist to be bullish, including:

1) The ‘incredible buy’ signal.

2) Price action RSI resistance breakout.

3) Points 1 & 2 above is also true for the 2-day BTC pair (below).

4) Regular bullish divergence. (1-day chart below).

5) Wink wink nudge nudge - don’t know what I mean? Shame.

Is it possible price action falls further? Sure.

Is it probable? No.

Good luck!

Ww


Type: trade
Risk: <=6% of portfolio
Timeframe: 2 - 4 months
Return: 10x



2-day BTC pair

1-day Bullish divergence

Trade active

Comment:

Have been asked if it is possible to forecast a near term target on this trade. The large time frames is more my thing folks, not a day trader and a rather poor swing trader. That said there’s a likely 160% move coming up should price action break out of the falling wedge as is shown on the 15hr chart below, which would be a return to April levels. Price action is trading inside an increasingly tight area with a breakout no later than June 10th. The near term target is a result of measuring the flagpole extension. Hope that answers the question!

Trade active

Comment:

2-day BTC pair looks like

Comment:

up 40% so far

Trade active:

A signifiant move is seeming likely in the not too distant future, just can't say when.

Comment:

Might be a good moment, current 4hr chart

Trade active:

** Close swing trades - be long **

Daily chart shows price action printing a higher low in ascending channel with multiple strong buy signals across multiple time frames following a 40% correction from the upper side of the channel since early August.

Bitcoin pair is similar

Comment:

Testing past resistance as support...

Trade closed manually:

Almost at local target of 60 cents

2-day