This is a highly experimental idea, not something to base your trades off.
As you can see on the 4H chart, we've made some really thin moves with little to no stops in between. I'm not sure if this is the end of it, we may see some more expansion downwards, BUT when it finishes, in case we start going back up it may be a fast and explosive move, maybe to retest...
We got a break in the market structure here, and now we have to wait for some retracement to look for a buy.
There's a bullish breaker nested between .62 and .705 fib retracements which is a great spot for Phoenix to retrace before attempting to break new highs. This retrace would also fill that small void we left during the pump.
Some terms I used...
Nice breaker there on the 4H chart, seems to have been retested and ready to fill the void to the left.
In case that the breaker fails, there is a bullish block right below it as backup, but I'm hoping it doesn't come to that.
Nice 3.5 R/R setup here.
On a side note, if it takes off soon, it would be a good idea to take some profit halfway to thegoal and keep...
So this is a very promesing project that I have been watching for more then a month and it has raised from 980 sat to 6000 sat and retraced back to 4250 sat.
On the 10th they are releasing a new in-game shop and a road map for 2018 and its their 1 year birthday so there will be extra news.
Securing profits at: 6500 sat