Potential for reversal of downtrend

2019年7月12日

FTM is forming a double bottom pattern with decent volume. If more volume comes to confirm, this could be the reversal of its downtrend. Also the recent fundamentals(weiss ratings review, token swap bridge with binance chain) of the coin are in sync with the double bottom pattern. Targets to look out for if the setup is invalidated are mentioned in the chart. RSI is clean.
- Also look out for triple bottom reversal

2019年7月14日

手動結束交易

I forgot to update this post. Closed the trade at 235 sats itself as the volume was not following through

2019年7月18日

註釋

2019年7月18日

註釋

2019年7月19日

註釋

It is forming a base fore wave 3. The third reversal from the bottom is in sync with the Dubai partnership Fantom foundation has made to transform Dubai into a blockchain powered city.

2019年7月19日

註釋

Buyers are taking control

2019年7月20日

註釋

Tight consolidation at 200 sats. Will breakout anytime now.

2019年7月25日

註釋

This market finally took off.

2019年7月26日

註釋

Don't take these updates seriously. I am experimenting with this market for short term trades. -

2019年7月27日

註釋

2019年7月28日

註釋

Woke up to see this wedge getting steeper than expected. Breakdown can be early in the 280-300 sats range. Breakdown will not be a free fall. The maximum it could fall i s upto 250sats where it formed market structure support on the 4 hour chart.

2019年7月28日

註釋

It can breakdown now itself

2019年7月29日

註釋

Wave (3) has started and would top at 325 sats. Trying to trade subwaves of this wave

2019年7月30日

註釋

Yesterday, I had a suspicion that the flat correction might be playing out despite high volume showing up in new wave 1. So I sold at 270 and kept a stop limit at 270 with trigger at 271. I was lucky that market came as high as 270 and and didn't trigger my stop. Now it is at 255 sats also the 61.8 retracement of wave (B)(new wave 1). There is a possibility for wave (C) to retrace 100% of wave (B). If it doesn't retrace 100%, these waves (B) & (C) will be treated as waves 1 & 2 of the new bull cycle as I did earlier. The high volumes in wave (B) is deceiving to get into a bull trap.

2019年7月30日

註釋

2019年7月30日

註釋

This may be the correct elliott wave count

2019年7月30日

註釋

I will not be shorting from now on as I think this is gonna go parabolic

2019年7月31日

註釋

New post -