Good opportunity to enter a long position on Siacoin. Currently sitting around the 0.618 Fib level, and has just recently bounced off major support nicely. It also just broke major resistance and has closed above twice. It has also just recently formed a bit of a double bottom, which along with possible divergence, can make for a great bounce. I will enter once it closes above the 0.618 Fib level on the 1hr graph, recent double bottom suggests that should be in the next few hours.
Entry: Once 1hr chart closes over 0.618 Fib level
Stop/Loss: 0.0000026 (This is around the recent low, and if it hits will be one of the lowest price since May/June)
Profit Point: Will plan to exit at around the 0.00001 mark
Will trail the stop so that after every 2 Fib levels, the S/L goes up 1 Fib level
Resistance areas:
0.00000404
0.00000485
0.00000586
0.00000750
Basically all previous Fib levels at this stage I see as potential resistance areas, price has bounced/retraced off these areas in some way in the past
Entry: Once 1hr chart closes over 0.618 Fib level
Stop/Loss: 0.0000026 (This is around the recent low, and if it hits will be one of the lowest price since May/June)
Profit Point: Will plan to exit at around the 0.00001 mark
Will trail the stop so that after every 2 Fib levels, the S/L goes up 1 Fib level
Resistance areas:
0.00000404
0.00000485
0.00000586
0.00000750
Basically all previous Fib levels at this stage I see as potential resistance areas, price has bounced/retraced off these areas in some way in the past
Trade active
Entered @ 0.00000326Note
Has dropped but looking like it's going to bounce nicely off the support lineTrade closed: stop reached
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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.