Coin iS Tinkling
Updated
Hi friends, Sharing weekly chart of Coinbase global. So as you can see that i identified an Ascending Triangle breakout pattern in it on weekly chart and below i am sharing some insight and key factors about this breakout which i analyzed on provided chart, hope you like my presentation and give your valuable support to my publication mates.
So as we can see above on provided chart that price breached recent swing top and close above and it is highest clsoing after 17-18 months by the price too so i assume that we can see some bullish moves in this counter in coming weeks Guys.
Analysis points- You can see that before this breakout price started making higher lows and gradually moved out towards breakout zone and made a higher high pattern too by recent two swing tops, before this higher low formation when price was in lower lows trend i observed that Rsi making higher highs formations so we can say that it was bullish divergence too by rsi at that time and we can say that price just started the resumption of uptrend from there.
Targets- Target i identified for this long trade by two ways, one is very simple i am taking resistance target and for the second i meausered height of Triangle from swing top to swing bottom and find out amazingly that both targets indicating almost the target zone, so taken target zone seems very logical for me friends.
Breakout Retest Levels- 105
This publication is meant for only learning purpose, it is not any kind of trading advice.
Best Regards- Amit
“If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” -Mark"Douglas
So as we can see above on provided chart that price breached recent swing top and close above and it is highest clsoing after 17-18 months by the price too so i assume that we can see some bullish moves in this counter in coming weeks Guys.
Analysis points- You can see that before this breakout price started making higher lows and gradually moved out towards breakout zone and made a higher high pattern too by recent two swing tops, before this higher low formation when price was in lower lows trend i observed that Rsi making higher highs formations so we can say that it was bullish divergence too by rsi at that time and we can say that price just started the resumption of uptrend from there.
Targets- Target i identified for this long trade by two ways, one is very simple i am taking resistance target and for the second i meausered height of Triangle from swing top to swing bottom and find out amazingly that both targets indicating almost the target zone, so taken target zone seems very logical for me friends.
Breakout Retest Levels- 105
This publication is meant for only learning purpose, it is not any kind of trading advice.
Best Regards- Amit
“If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.” -Mark"Douglas
Note
Price trying to break rejection area strongly after slight last week closing above but this move seems much stronger than that so now from here if price will close above this rejection resistance we can see that momentum will accelerate more from here friends, Thanks for reading and giving support to my my publicationNote
Hello friends, Sharing an update after when price picked up good momentum after publishen and sustaining very well above on rejetion resistance shared in update above, So now from here i find out a support zone which can work as a retest zone also for price if come down we can see bounce from there which is near about the rejection area shared in updated above, So far is idea is going good for me and see that we can see 130-132 levels in this week friends by this bullish moveNote
Trailing Stop loss update-:Hello friends as i given an update about that price can reach 130 to 132 levels in this week so today it reached 131 levels so now from here i am taking 50% profit as 13% gains so far and for rest position i am updating this idea as trailing stop loss to buy price as a safety point of view and will wait for the final target idea woked well for me in less time so taking some gains. I will update next this idea after the completion of final target until unless something important to update with all of you. Thanks for reading and giving your wonderfull support and time for my this publication mates, Cheers happy weekend !!
Note
Sharing an important update regarding closing based resistance so we can see that price close above resistance which i marked in this update from where price got rejections several times after published breakout so i assume that after this breakout we can see a fresh momentum and marked target could be arrived soon, So far gained 39% by this trade and somehow idea worked very well for me.Trade closed: target reached
Target Update-Hello friends mates and traders, So the target of 159 levels achived from 115 levels which is the gains of 38% in just 23 days and gained 53% from breakout levels guys. Idea continously moved in target direction and it didn,t even bother me after the confirmation of breakout and publication. Happy to share nice gains with all of you mates. Thanks of reading and supporting mine idea, Cheers
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