Rounded Bottom pattern on $TLM
Updated
This is a personal short -term swing trade I'm taking for Alien Worlds awesome TTLM coin.
PATTERN_____
Rounded Bottom (RB), or possibly Cup and Handle (C&H). Parabolic Curve Theory (PCT) applies.
TECH ANALYSIS_____
4-hour timeframe chart.
I'm approaching this Rounded Bottom with PCT. Have already recognised a sub-base (follow up on my research for PCT) which I name .b1.1 and bases 1 and 2 (.b1 and .b2) already reached byr Price Action (PA).
Ichimoku is bullish on the Kumo Cloud which is broad and beneath PA. Tenkan and Kijun are bullish and with plenty space between them. T over K is bullish. Impulses will grow longer and higher as it moves from base to base.
Chikou lagging span (purple line on my setup) is far and above PA which is bullish as well.
EXPECTATIONS_____
PCT has it that from .b3 up price could double in the shortest period which is consistent to base 3 being at a 0.56 price level and close of RB at 0.93 which is roughly double.
I expect RB to develop into C&H pattern or keep moving up for a measured move equivalent to the cup's depth (360+%) over a longer period of time. We will probably see TTLM passing the dollar within a week.
THREATS_____
BTC volatility and dominance kicking in.
I'm doing...
Entry Price (EP): range between 0.416 and 0.435
SL: Manual
TP1: 0.47
TP2: 0.56
TP3: 0.65
TP4: 0.77
TP5: 0.93
DYOR and TIT
PATTERN_____
Rounded Bottom (RB), or possibly Cup and Handle (C&H). Parabolic Curve Theory (PCT) applies.
TECH ANALYSIS_____
4-hour timeframe chart.
I'm approaching this Rounded Bottom with PCT. Have already recognised a sub-base (follow up on my research for PCT) which I name .b1.1 and bases 1 and 2 (.b1 and .b2) already reached byr Price Action (PA).
Ichimoku is bullish on the Kumo Cloud which is broad and beneath PA. Tenkan and Kijun are bullish and with plenty space between them. T over K is bullish. Impulses will grow longer and higher as it moves from base to base.
Chikou lagging span (purple line on my setup) is far and above PA which is bullish as well.
EXPECTATIONS_____
PCT has it that from .b3 up price could double in the shortest period which is consistent to base 3 being at a 0.56 price level and close of RB at 0.93 which is roughly double.
I expect RB to develop into C&H pattern or keep moving up for a measured move equivalent to the cup's depth (360+%) over a longer period of time. We will probably see TTLM passing the dollar within a week.
THREATS_____
BTC volatility and dominance kicking in.
I'm doing...
Entry Price (EP): range between 0.416 and 0.435
SL: Manual
TP1: 0.47
TP2: 0.56
TP3: 0.65
TP4: 0.77
TP5: 0.93
DYOR and TIT
Trade active
Will be updating this active trade. Since entering has done exactly what was projected by TA. The drawing of the rounded bottom is off by 1 day or 1 day and a half. Will correct that on the followup.
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