Long
Stratis Consolidation Pattern
I want to analyze a few Alt-Coins here, and see if any patterns are worthwhile.
On the daily chart, we see a 5 month long sideways pennant flag consolidation pattern.
This is a great example of an alt-coin that seems ready to breakout again if more money flows into crypto-currencies.
HOW TO TRADE:
LONG: above 6.50 which would represent a breakout of the pennant pattern's upper trend line resistance.
STOP: below 3.00 below the last pivot low, which also represents the area of the pennant lower trend line support.
TARGET: fomer highs around 10 or 11
Reward to risk: 2 or 3:1 depending on if you wait for the breakout or get in earlier within the consolidation range.
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!! PM me with any trading questions !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections, measured moves, support and resistance.
Successful trading means proper risk sizing and trading small so you can stay in the game.
On the daily chart, we see a 5 month long sideways pennant flag consolidation pattern.
This is a great example of an alt-coin that seems ready to breakout again if more money flows into crypto-currencies.
HOW TO TRADE:
LONG: above 6.50 which would represent a breakout of the pennant pattern's upper trend line resistance.
STOP: below 3.00 below the last pivot low, which also represents the area of the pennant lower trend line support.
TARGET: fomer highs around 10 or 11
Reward to risk: 2 or 3:1 depending on if you wait for the breakout or get in earlier within the consolidation range.
---------
!! PM me with any trading questions !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections, measured moves, support and resistance.
Successful trading means proper risk sizing and trading small so you can stay in the game.
Support me with these referral links:
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Support me with these referral links:
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.