Long
LUNA could be setting up a nice run up
Looking for a retracement on LUNA back near or under $73.21 (bband top) before opening a short term (4-12 hour) long possibly a perpetual or leveraged position.
Criteria below:
1. LUNA closed over 200 DEMA on 1 hour chart at 04:00 12/7/21
2. Possible 200 DEMA v 50 DEMA bullish crossover (waiting on the next candle or two for confirmation)
3. MA has crossed EMA at 16:00 on 12/6/2021 and closed above ever hour since
4. MACD index well over 0 and well over the signal on an upward trajectory
5. Strong volume on green candles
6. Fear and Greed for Crypto still at extreme fear (alternative.me/crypto/fear-and-greed-index/)
We want to buy when the fear is up. And sell when the greed is full. Markets trend opposite of emotions/sentiment.
**There's 25 min left in the hour and it looks like the bullish confirmation is coming in on the one hour chart. I would prefer to buy on a red candle, most likely will stay disciplined and wait for a retracement.
DONT GET REKT.
Take profits on the way up, and set stop limits.
Criteria below:
1. LUNA closed over 200 DEMA on 1 hour chart at 04:00 12/7/21
2. Possible 200 DEMA v 50 DEMA bullish crossover (waiting on the next candle or two for confirmation)
3. MA has crossed EMA at 16:00 on 12/6/2021 and closed above ever hour since
4. MACD index well over 0 and well over the signal on an upward trajectory
5. Strong volume on green candles
6. Fear and Greed for Crypto still at extreme fear (alternative.me/crypto/fear-and-greed-index/)
We want to buy when the fear is up. And sell when the greed is full. Markets trend opposite of emotions/sentiment.
**There's 25 min left in the hour and it looks like the bullish confirmation is coming in on the one hour chart. I would prefer to buy on a red candle, most likely will stay disciplined and wait for a retracement.
DONT GET REKT.
Take profits on the way up, and set stop limits.
Note
it is now 07:48 and luna has taken a healthy retracement back into the bands
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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.