4 Hour Consolidation on NXT
Updated
NXT is currently consolidating after making a large move upwards. I believe there is more room to go. An entry signal would be the close of a 4 hour candlestick above 1600.
The next resistance after 1600 is 1800. Here is my daily chart to support that comment.
EXIT SIGNALS:
Could sell at the break of the equilibrium pattern support
OR
Sell at break of key support level.
ENTRY SIGNALS:
Enter at break of 1600 resistance
OR
Enter at break of 1800 resistance.
Alternatively, you could enter now and potential grab even higher % gains - however, much riskier imo
DISCLAIMER:
This is just my opinion so take my advice at your own risk! Good luck and happy trading everyone :]
The next resistance after 1600 is 1800. Here is my daily chart to support that comment.
EXIT SIGNALS:
Could sell at the break of the equilibrium pattern support
OR
Sell at break of key support level.
ENTRY SIGNALS:
Enter at break of 1600 resistance
OR
Enter at break of 1800 resistance.
Alternatively, you could enter now and potential grab even higher % gains - however, much riskier imo
DISCLAIMER:
This is just my opinion so take my advice at your own risk! Good luck and happy trading everyone :]
Note
Just made a trade on the 1 hour time frame on the break of previous resistance and sold at 1800 key resistance.I am expecting consolidation between 1600-1800 range.
Will look for re-entry at break of 1800 key resistance or bull reversal candlestick support at 1600.
My HR chart:
Note
I've just learned that NXT will be airdropping 0.5 IGNIS for every NXT you hold around 12/25.Personally, I'm not sure how to obtain your IGNIS if you hold NXT; however, it's something to look out for if you're HODL'in
Disclaimer
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