CRO / USD - Bullish divergence

Nov 18, 2020

Following a 65% correction and oversold condition (orange column) the above 1-day chart is now showing a number of bullish indicators that a reversal is imminent. The facts:

1) Bullish divergence between price action and Money Flow.

2) Price action has retraced to the golden ratio, the 0.786.


4-day chart below is printing a Dragonfly DOJI however we can’t confirm until the next candle is printed. Nonetheless, we have a oversold condition.

Good luck!

Nov 20, 2020

Trade active

Nov 24, 2020

Note

2-day chart just printed a new candle showing a lot of momentum + increased volume. The days / weeks ahead should be interesting.

Dec 2, 2020

Note

Some very mixed signals on the 3-day chart. Bearish engulfing whilst oversold. Feels like a 50/50 in terms of probability of direction right now - I don't like it.

If current support is further weakened by sellers there's a 40% fall to the next support level.

I'm leaving the idea opened for the time being as my strategy confirms and remains an incredible buy, but the bottom might not yet be in. If you're a fan of this project I'd use the opportunity as dollar cost average in moment.

Dec 10, 2020

Trade closed: stop reached

Failed support on the 3-day chart opening the door to a test of the next support level, which could be -40% away.

Dec 16, 2020

Trade active

Seems price found support, just not as low as expected.

Nov 29, 2021

Trade closed manually

1500% gain. Awesome. Expect a 50-70% correction.