FTM.BTC (Y20.P3.E1).Macro structure.Key levels

2020年7月18日

Hi All,

I have been trading FTM of recent, only once so far due to the structure. It was an opportunity for a small trade.
When I did my review today at the bigger structure, it has passed one big hurdle and is likely to keep going up.
However it has many layers of resistances.
< Note: WR, WS, MR, MS are what I mark for weekly resistance and support as well as monthly resistance and support. These help find targets as well>

My thoughts:
> Major sloping trend line resistance has been passed and retested on the daily, so its held up. Using the Run and Bump strategy, its also fits into this structure and hence strategy.
> Hence, I see a potential price potentially bouncing off the 0.618 fib level as per the 4hrly chart, due to the volume profile having confluence with this fib.
However the 0.5 fib looks like its holding based on the current candle and its wick.
> I don't think it will be that volatile in this range.

How to trade it:
Not an easy one to call the entry but if the daily (current) candle closes above the 0.5 fib level (13 hrs to go) or higher then, its a bullish sign.
As per my chart, I'm looking at 0.5 and 0.618 fib level and the candle sticks on the 3, 6, 12 hrly time frames, to go long.

Please give me a like or tick for this effort,

Cheers,
S.Sari

4 HRLY chart.


Overview chart

2020年7月20日

註釋

2020年7月20日

註釋

Since I made a good entry and looking at the other alts doing 700%, I'm just going to go long on this one as well.

2020年7月20日

註釋

Sometimes we get lucky if your on the system and watching.
Looking back, here was my entry.

2020年7月21日

註釋

still looking strong. Obviously strong resistance area and most Alts are dropping so its one of those now is doing good.

2020年7月21日

註釋

2020年7月27日

交易結束：目標達成

2 out of 3 targets perfect. Last target, I should have known the wicks should be not included.