Updated

WPR, the famous ICO CUP.

Hello friends, welcome to this analysis on WPR.

WPR was one of the recent successful Ico,

being in the market and watching the recent ico launches such as ONT, Wan and some other coins, i came up with this pattern i like to call "the the Ico cup"!

usually, the successful icos, go down after in price due to the token holders from ico take their profits, after that the price curves and make a huge cup followed by a bullish consolidation as falling wedge.
according to my experience with this new ICOs and this pattern, I figured out that they have a huge upside potential cause unless other coins they don't have bag holders, hence they have fewer resistants on the way upside.
we can only expect people to take profits based on Fibonacci and measured move lines.

A powerful break (candle open and close with high volume) above the wedge ( the black dotted triangle) can be a good buy signal.

as I always say, don't FOMO on the break out and wait for the candle to open and close above the falling wedge on high volume to confirm the breakout.

If you wanna participate in this trade remember to use stop-losses according to your risk profile and take profit at the red Fibonacci and red dotted lines.

Good luckzi ;)

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broke out very goon on high volume.
you can wait for another good candle or a retest of the top of the wedge as confirmation.

and then you can purchase.
gl trading

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need some volume and it flies.
the good thing about it is it doesn't have sellers like at all. so as soon as buyers come the price will go up very fast. ;)

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moving nicely to our first target.

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we are 3% up, please take this 3% off the table
and set your stop loss 3% below your entry. so its gonna be a break even trade if it fails and stop us out.

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and then we are good to let the trade run.

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( take 3% off the table means take your 3% profits)

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I expect some resistant at this dotted black trend line and then we move to our next target at between 2018 and 1974 sats.

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basically, in this trade, this is the only resistant to break and then we have a blue sky above our head.

but take profits at the red trend lines above us once we break the dotted black line.
cause that's what smart money will do and causes retracements.
we wanna be smart money as well.

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if you wanna buy this trade now. and you haven't entered at the break out of the pennant. you should wait for the price to go above the dotted black line resistant open and close candles there. buy it with a stop loss 1-2% below the dotted black resistant.

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it's flirting with the resistant which is a good action.
If we break above the dotted black line resistant on high volume ( remember high volume is the key) and close the candle above it, that can open a new entery point for people who want to join the trade and didn't join at the break out of the panent.
with a stop loss 1-2% below the dotted back line.
people who bought at the break out of the penant should move their stop losses to there as well.

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its fine had a pullback and retested the wedge again and seems like it has found it as support.

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once it gets that cross that dotted black resistant then from there the sky is clear for this coin to go.

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Well, this one got rekt, but if you would take your 3%-4% profits at the resistant and set your stop loss 2-3% below our entry as i told you, you would come out of this trade with 1% profits.
this is why I always say risk management is the key to trading.

with that said, it might go up later, it doesn't have enough volume.

Trader_Shayan

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Trader_Shayan