There is a possibility for the beginning of an uptrend in SNMETHTechnical analysis:
. SONM/ETHEREUM is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 66.
. The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of the resumption of an uptrend is increased.
Trade Setup:
We opened 8 BUY trade(s) @ 0.00023921 based on ' Hammer ' entry method at 09.10.2018.
Trading suggestion:
. There is still a possibility of temporary retracement to suggested support zone (0.00021500 to 0.00018600). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.00021500)
Ending of entry zone (0.00018600)
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= @ 0.0002584
TP2= @ 0.0003023
TP3= @ 0.0003361
TP4= @ 0.0003803
TP5= @ 0.0004304
TP6= @ 0.0005391
TP7= @ 0.0007097
TP8= Free
