POLYX │ LONG │ 31.10.2023
Updated
POLYXUSDT.P Comment
Usually, with a strong instrument's growth, there should be an equally strong movement in the opposite direction. However, instead, we see a calm consolidation, which is a very strong signal.
At present, POLYX looks the most promising for an upward continuation out of all the ideas already published, as there is consolidation before the level is breached. In other words, the instrument has increased in price, stopped, is gaining strength, undergoing consolidation, and is likely to move higher.
At least that's how I see it. If there are sharp price changes, I will cancel the order.
Signals for level breakout
- bar/candles closure near its high/low;
- close retest of the level;
- accumulation of energy for level breakout;
- consolidation near the level;
- decrease in trading volumes before the level;
- a clear zone beyond the level;
- there is no reaction to a strong instrument movement;
- the instrument is not allowed to decrease in price;
- there is a reserve of calculated ATR;
- there is a reserve of technical ATR;
- the instrument is not following the market.
- the instrument is stronger than the market
Order parameters (risk-to-reward ratio = 1 to 3)
- Open: 0.4316427;
- Stop loss: 0.4194294;
- Take profit:0.5049225;
Every trader should make their trading decisions based on their own analysis and circumstances. The signals in this channel should be considered as an additional tool for your own consideration.
Follow me and receive high-quality cryptocurrency market analysis! - Take profit:0.5049225;
- Stop loss: 0.4194294;
Order cancelled
Alright, we didn't have an entry point in the market.
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