The Daily PIVXUSD is CERTAINLY my favorite chart right now.
As all the other coins have fallen along with Bitcoin, PIVX held up nicely.
The levels are clear here, and clear levels are the most important thing for good analysis because we know our stops and targets clearly. If this thing gets moving, it could easily 2x, 3x, or 10x it's price.
We had a huge base build from April to August and now it's broken to the upside. The bigger the base, bigger the breakout - it's like rocket fuel.
Entry: Long above 3.00
Target 1: 5.00 (261.8% Fib Level)
Target 2: 7.00 (361.8% Fib Level)
Stop: Daily candle close below 3.00
If PIVX closes below 3.00, then it's a lost trade, but until then, this is one of the strongest patterns out there.
Remember, technical analysis is more about finding clear levels to trade against. High reward targets and low risk stops mean we can make more than a few mistakes and still come out ahead. A trader with a win percentage over 50% is just a lucky trader. But the best traders win 30-40% and come out ahead because they have good reward to risk ratios.
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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.
As all the other coins have fallen along with Bitcoin, PIVX held up nicely.
The levels are clear here, and clear levels are the most important thing for good analysis because we know our stops and targets clearly. If this thing gets moving, it could easily 2x, 3x, or 10x it's price.
We had a huge base build from April to August and now it's broken to the upside. The bigger the base, bigger the breakout - it's like rocket fuel.
Entry: Long above 3.00
Target 1: 5.00 (261.8% Fib Level)
Target 2: 7.00 (361.8% Fib Level)
Stop: Daily candle close below 3.00
If PIVX closes below 3.00, then it's a lost trade, but until then, this is one of the strongest patterns out there.
Remember, technical analysis is more about finding clear levels to trade against. High reward targets and low risk stops mean we can make more than a few mistakes and still come out ahead. A trader with a win percentage over 50% is just a lucky trader. But the best traders win 30-40% and come out ahead because they have good reward to risk ratios.
-------
!! 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