On the above 6-day chart price action has corrected 97% since August 2021. A number of reasons now exist to be long, including:
1) Price action and RSI resistance breakouts.
2) Stochastic RSI resistance breakout.
3) Regular bullish divergence as measured over the last 2-3 months.
4) Falling wedge breakout + support. 100% upside target projected.
Is it possible price action corrects some more? Sure.
Is it probable? No.
Ww
Type: trade
Risk: <=6%
Long timeframe: This month
Return: 100% in the 1st instance
1) Price action and RSI resistance breakouts.
2) Stochastic RSI resistance breakout.
3) Regular bullish divergence as measured over the last 2-3 months.
4) Falling wedge breakout + support. 100% upside target projected.
Is it possible price action corrects some more? Sure.
Is it probable? No.
Ww
Type: trade
Risk: <=6%
Long timeframe: This month
Return: 100% in the 1st instance
Trade ist aktiv
Anmerkung
Long from $3 when re-tested for support.Anmerkung
40% so farTrade ist aktiv
Anmerkung
60% so far, not long until 1st resistance..Trade geschlossen: Ziel wurde erreicht
125%Anmerkung
Had more than a few messages "Price is still going up and you said the target is reached!" Many emotions.Price action is now up 200% or thereabouts. 75% more than the target and climbing. Here's the rub, the majority of traders out there make the link:
Target = market top / bottom
If you do that, I can safely say you'll leave this bull market will less gains and more frustration. Targets are not a strategy. When you replace Probability with Targets you change your mindset set from Abundance to Scarcity. What a terrible place to be. Every target is a goal, deterministic.
Markets are not governed by determinism, that are controlled by emotions. That makes them probabilistic.
If you want to maximise your gains, learn probability and let others worry about the possibilities.
Anmerkung
Past resistance (old target) confirms support.Trade ist aktiv
About to print to $30.Order storniert
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.