A long-term Buy trading opportunity for GRCUSDTechnical analysis:
. GridCoin/Dollar is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 39.
. While the price downtrend in the Daily chart is not broken, bearish wave in price would continue .
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.0207 to 0.0173). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.0207)
Ending of entry zone (0.0173)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.0303
TP2= @ 0.0382
TP3= @ 0.0461
TP4= @ 0.0573
TP5= @ 0.0630
TP6= @ 0.0753
TP7= @ 0.0907
TP8= @ 0.1130
TP9= @ 0.1354
TP10= Free
