Long
YOYO/BTC Breaking Out?
YOYO/BTC 4hr chart is showing a breakout here. Momentum is gaining as well.
There is low volume and you should wait to see it close above Kijun Sen before entering to make sure it does not act as resistance on the 4hr.
The Daily Kijun - red line - seems to be acting as a strong support as the 4hr has tapped it at least 5 times.
If this next 4hr closes and confirms a break above the kijun I would be looking for:
1. 175
2. 182
3. 189
These would be my targets and stop loss below the daily kijun at 156.
Learn with me and follow on Twitter: coachkcrypto
Happy Trading,
Coach K
PS: Reminder wait for the 4hr to close above Kijun to enter this trade.
There is low volume and you should wait to see it close above Kijun Sen before entering to make sure it does not act as resistance on the 4hr.
The Daily Kijun - red line - seems to be acting as a strong support as the 4hr has tapped it at least 5 times.
If this next 4hr closes and confirms a break above the kijun I would be looking for:
1. 175
2. 182
3. 189
These would be my targets and stop loss below the daily kijun at 156.
Learn with me and follow on Twitter: coachkcrypto
Happy Trading,
Coach K
PS: Reminder wait for the 4hr to close above Kijun to enter this trade.
Nota
A great lesson for everyone here is why we wait for the close above kijun! The Kijun ended up turning into resistance as we now can see!
Trade not ready!
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