Hi All,
Planning ahead phase:
After I looking at ADA, I came across this as its bouncing today to see why, and it makes sense with the Bullish div. playing out.
So I thought, what's the story on this coin CELER NETWORK. Hence my TA on the structure.
MY OBSERVATIONS and THOUGHTS:
=============================================================
Daily gives you the trading strategy and with the 8 HRLY or 12HRLY, I find it easier to see the details (entry points) on the chart.
> Indicators show me a bounce here due to the Bullish div. on the RSI, double bottom.
> We are having the ABC correction playing out, targeting the 0.5 or 0.382 fib level, really depends how deep BTC correction is as well.
FYI, I don't expect a deep correction with the SP500 or BTC so maybe the 0.5 fib level is our target here.
> On the way up, we have 3 points of reference on the bottom trend line. The 2 bottom points is where the target is based on the BARR or Inverted BARR approach.
> As per chart, I'm assuming then the downward trajectory is some type of Wedge and soon we will see the top of the trend line of this wedge.
> Note how we passed the 0.618 level so this will be a strong resistance hence why I have placed the trend line and potential price action accordingly.
> On the chart, I envision the 0.5 level to be hit with potential dips in the orange section and if its was to be a deeper pullback, then a bottom formation taking place in the orange section;
Indicators:
> On the 8 hrly, we have Phoeix with the green rsi crossing over the red, in sync with the RSI bullish div.
> On the daily, we have no sign of a reversal any time soon based on the Phoeix indicator. Still downward pressure on the daily.
8 HRLY chart:
DAILY Chart:
3 Day chart: Phoeix downward pressure still there
Planning ahead phase:
After I looking at ADA, I came across this as its bouncing today to see why, and it makes sense with the Bullish div. playing out.
So I thought, what's the story on this coin CELER NETWORK. Hence my TA on the structure.
MY OBSERVATIONS and THOUGHTS:
=============================================================
Daily gives you the trading strategy and with the 8 HRLY or 12HRLY, I find it easier to see the details (entry points) on the chart.
> Indicators show me a bounce here due to the Bullish div. on the RSI, double bottom.
> We are having the ABC correction playing out, targeting the 0.5 or 0.382 fib level, really depends how deep BTC correction is as well.
FYI, I don't expect a deep correction with the SP500 or BTC so maybe the 0.5 fib level is our target here.
> On the way up, we have 3 points of reference on the bottom trend line. The 2 bottom points is where the target is based on the BARR or Inverted BARR approach.
> As per chart, I'm assuming then the downward trajectory is some type of Wedge and soon we will see the top of the trend line of this wedge.
> Note how we passed the 0.618 level so this will be a strong resistance hence why I have placed the trend line and potential price action accordingly.
> On the chart, I envision the 0.5 level to be hit with potential dips in the orange section and if its was to be a deeper pullback, then a bottom formation taking place in the orange section;
Indicators:
> On the 8 hrly, we have Phoeix with the green rsi crossing over the red, in sync with the RSI bullish div.
> On the daily, we have no sign of a reversal any time soon based on the Phoeix indicator. Still downward pressure on the daily.
8 HRLY chart:
DAILY Chart:
3 Day chart: Phoeix downward pressure still there
Note
update on chart...still looking like an accumulation area. Buy the dip.
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.