COMPUSD Guess

Just a guess. Lower than usual confidence in the exact levels and timing of the movement. I'm already long, but if I see more bullish divergence I will accumulate more. I typically don't like to trade newer coins with less historical data, but I'll give this one a shot. As always, let's see what happens.

Trade active

Sort of what I was looking for... But a lot more bearish looking than I hoped. The channel is expanded rather than contracted, and the drop is coming off of a BTC & ETH rally. Very strange times.

Trade active

Accumulating more in the $120s

Note

Ugh, chart looks so bad. Big volume on red candles. On the positive side, we have a double bottom at $120 and bullish divergence on pretty much every intraday timeframe. I'm running on hope and trying to skew data to a bullish bias, which is never a good sign. The resistance at $150 is definitely no joke, so this is my new price target.

Note

Resistance in the 150s has been creating some excellent scalping opportunities as the price swings between rejection of current resistance and retest of prior resistance. Unless you have an algo, you really need to babysit the market during these times to maximize profits because the price action is so fast at critical zones. Blink and you miss it. I was able to catch a few of these guys, but only because I fanned sell orders throughout the 149 to 160 zone in anticipation of this chop, and coincidentally caught some of the highs and was able to get back in by fanning buy orders in the 140s. Full transparency, some of my rebuy orders were too low and didn't hit -- that's fine, it's a part of the dance, so I'm not back up to my original full position. For now, we're still trending up, and the trend is the trend until it's not, but I do see a bit of exhaustion. I will rebuy more at the cyan anchor zones. Keep an eye on the MA 25, 50, 100 on shorter timeframes (not shown), and keep an eye on the minor bearish RSI divergence (shown), and keep an eye on the anchor zones (shown). If the current resistance at $160 breaks, it should get rejected near $170 and retest $160.
That seems to be the pattern so far.

Note

Another quick look at the hour chart. It needs to hold the trendline, but there are a lot of exhaustion signals popping up all over the place. Watch out for bull traps too.

Trade closed manually

At first this seemed like a failed prediction, but it turned out to be remarkably accurate. I got very lucky accumulating in the $120 zone. Taking my profits here in the $220 to $230 range and walking away for now. Don't care if it shoots up to infinity. There are other fish in the sea. Happy trading!

swilton

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swilton