Long
Harmony For Longers :)
Factom is a solid company with talented people. Always coming up with new ideas.
Now it's time to long their currency.
Fundamental
About a month ago Factom released a new product, Harmony.
Watch this video and you will see why I am bullish:
youtube.com/watch?v=RkwNlCfjkKA
Especially the part inbetween 7.00-7-20.
"We have three very very large financial institutions that we are in contract negotiations with.."
This could be big, and make my sell area hit very easily.
Technical
On the longer timeframe I am looking at a channel. And I want to sell at the top of it.
It has broken out of a triangle with good volume and we have lots of support areas below the current price.
On a shorter time frame:
I see 3 support lines and I will sell off/stop loss some of my position for every line that is broken.
[ib]Weak Line: Sell off 20% if this line gets broken
Strong Line: Sell 30% if this line gets broken.
Even Stronger Line: Get out completely from the trade.
Buy (0.0055)
Sell (0.012)
Stop Loss (See Above)
Now it's time to long their currency.
Fundamental
About a month ago Factom released a new product, Harmony.
Watch this video and you will see why I am bullish:
youtube.com/watch?v=RkwNlCfjkKA
Especially the part inbetween 7.00-7-20.
"We have three very very large financial institutions that we are in contract negotiations with.."
This could be big, and make my sell area hit very easily.
Technical
On the longer timeframe I am looking at a channel. And I want to sell at the top of it.
It has broken out of a triangle with good volume and we have lots of support areas below the current price.
On a shorter time frame:
I see 3 support lines and I will sell off/stop loss some of my position for every line that is broken.
[ib]Weak Line: Sell off 20% if this line gets broken
Strong Line: Sell 30% if this line gets broken.
Even Stronger Line: Get out completely from the trade.
Buy (0.0055)
Sell (0.012)
Stop Loss (See Above)
Note
coindesk.com/blockchain-factom-8-million-extended/That's a nice bit of news :) Expect fast growth this week.
Note
Looking real healthy. Hodl tight!Note
We saw some pullback over the weekend. It touched the support line and bounced hard, which is very bullish. Little unexpected because of the 8 million funding and hype around partners, expected higher price before pullback. However, testing support levels and holding them is nothing to cry over.
Hold on to you Factom position if you have one.
Note
As you can see the weak line has been broken, but the strong support held perfectly.
Note
Bitcoin ruined our breakout a little bit on this.But you can see FCT finds support at the support line and should continue moving up when bitcoin settles down (or if news hits).
Note
Factom is finding lots of resistance between it's earlier highs.
I think we need some good news to break through it, or some heavy bull action on alts would probably do it! :)
Note
BTC took off yesterday and crashed everything else.Since its priced in BTC, the market will be affected.
I removed my stops yesterday which would have been hit, because the market overeacted on the BTC move.
Price is back up now, and when things cool down I'll add stops again below the trendline.
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.
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.