LINK.USDT (Y20.P4.E7).What's next?
Updated
Hi,
*** This is another continuation post (v2) from the previous one, as per my posting methodology where I like to link the trading story where its applicable ***
Link supplied below:
Just before I dig into my thoughts, Peter B gave out this tweet which said:
Charts do NOT predict prices. No form of TA predicts prices.
Charts suggest the path of least resistance
Charts provide a means to determine the risk of a trade
Charts offer help in timing
Charts offer POSSIBILITIES, not probabilities and certainly not certainties
MY THOUGHTS:
====================================================
Note: Log on chart is not enabled.
As per chart, we see the following:
a) A possible Wedge breakout or channel breakout;
b) The weekly support line (green band) had confluence with the 0.618 retracement, if I recollect correctly. Refer to my previous posts.
c) For BTC or LINK in this case, to break a major resistance level, being the next fib level as well, it might require a buildup.
As you can see, I have the place 2 fib levels, macro and minor levels. Currently the resistance is at the minor level and my focus.
d) I'm looking for a ABC impulse move or what I think is more likely a Elliot correction wave of ABCDE as a bottom formation, hence a bullish pattern.
This area does lean towards a bottom formation but its yet to be confirmed and its in line with my thoughts on BTC, a ranging price where there is a key resistance (BTC 11400 to 11600).
e) I see the red line most likely scenario, on what little money I have, I will buy that dip, if BTC demonstrates something similar as well.
f) If LINK hold this $10.3 level and accumulates, then the blue arrow path is likely, but if it drops below $10.3, then that black band ($9.6) is likely to be revisited, hence forming another lower high, potentially and agreeing with the thesis of my yellow ascending triangle.
What are your thoughts, bullish on LINK?
Please give me a tick or like for this post.
Regards,
S.SAri
8 HRLY Chart, using the EMA ribbon for confluence with the fib levels to equate support levels.
PREVIOUS POST:
*** This is another continuation post (v2) from the previous one, as per my posting methodology where I like to link the trading story where its applicable ***
Link supplied below:
Just before I dig into my thoughts, Peter B gave out this tweet which said:
Charts do NOT predict prices. No form of TA predicts prices.
Charts suggest the path of least resistance
Charts provide a means to determine the risk of a trade
Charts offer help in timing
Charts offer POSSIBILITIES, not probabilities and certainly not certainties
MY THOUGHTS:
====================================================
Note: Log on chart is not enabled.
As per chart, we see the following:
a) A possible Wedge breakout or channel breakout;
b) The weekly support line (green band) had confluence with the 0.618 retracement, if I recollect correctly. Refer to my previous posts.
c) For BTC or LINK in this case, to break a major resistance level, being the next fib level as well, it might require a buildup.
As you can see, I have the place 2 fib levels, macro and minor levels. Currently the resistance is at the minor level and my focus.
d) I'm looking for a ABC impulse move or what I think is more likely a Elliot correction wave of ABCDE as a bottom formation, hence a bullish pattern.
This area does lean towards a bottom formation but its yet to be confirmed and its in line with my thoughts on BTC, a ranging price where there is a key resistance (BTC 11400 to 11600).
e) I see the red line most likely scenario, on what little money I have, I will buy that dip, if BTC demonstrates something similar as well.
f) If LINK hold this $10.3 level and accumulates, then the blue arrow path is likely, but if it drops below $10.3, then that black band ($9.6) is likely to be revisited, hence forming another lower high, potentially and agreeing with the thesis of my yellow ascending triangle.
What are your thoughts, bullish on LINK?
Please give me a tick or like for this post.
Regards,
S.SAri
8 HRLY Chart, using the EMA ribbon for confluence with the fib levels to equate support levels.
PREVIOUS POST:
Note
Note the Daily chart's ema (10,21) , support and resistance levels. These should be used for reference points.Trade active
I'm also trading LINKBULL, so far the CPR is working well.Trade active
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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