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QLCBTC

QLINK 30% POTENTIAL GAINA little delay in posting: Looking at the entire chart the obvious pattern is a symmetrical triangle being in play. The bottom of this triangle was tested for the 3rd time on 5/10. This is an important pattern to take into account if debating placing a buy order at this time because it shows minimal risk is at play. Currently price is 1923 and the bottom of the triangle is at 1820 which is approximately 5% risk. To protect against this pattern breaking down, a stop loss would be considered at around 1790. As will be explained below, a new elliot wave sequence started at around 1800 and a complete retracement of wave 1 would invalidate the sequence as well as break the triangle pattern . If that happens, then get out. The first low and high were rather quick as QLC 0.26% found its range on Binance. Thereafter, we saw a long rounded bottom pattern (or cup n handle) which is drawn out in yellow. The rounded bottom pattern almost reached its full potential for a breakout before being halted by the resistance of the triangle pattern . The uptrend and breakout of the rounded bottom look to fit the proper measurements of a elliot wave sequence. The first wave had a decent run followed by a 62% retracement which is normal. The third wave failed to eclipse wave 1 by 162% which effects wave 5, wave 3 also had a substantial retracement of 77%. Because Wave 3 did not eclipse wave 1 by 162%, the likely outcomes for wave 5 were 62%, 100% or 162% of the combination of waves 1 and 3. Considering the substantial retracement of wave 3, it makes sense that wave 5 was stunted and only reached 62% of the combination of waves 1 and 3. This lined up perfectly with the resistance of the triangle pattern . The downtrend following completion of the elliot wave sequence was marked by a head and shoulders reversal comprising uptrend waves 3, 4, 5 and downtrend waves A, B and mid-wave C was the breakout sending it back to the support of the triangle pattern for completion of the downtrend wave sequence on 5/11 at 1820. This is where things get interesting because a similar inverse head and shoulders reversal pattern is the process of completing the right shoulder comprising downtrend waves C, D, E and new uptrend waves 1, 2, and mid-3 is the proposed breakout point at approximately 2175. If this breakout occurs, the potential measures a fit perfect to the resistance of the triangle pattern . This new uptrend wave sequence recently completed wave 1 followed by a healthy correction of 77% which is normal. If wave 3 triggers the inverse head and shoulders breakout as anticipated at 2175 then it could run straight to the resistance at the top of the triangle pattern where I anticipate it will lose steam and retrace some before wave 5. It just so happens that the top of the triangle pattern is around 162% of wave 1 which is a standard length for a healthy wave 3. If wave 3 is retraced 77% again (like the previous sequence) then wave 5 being measured as 100% of wave 1 would fit perfectly to the resistance of the triangle pattern at which point it would likely reverse again and head back down. However, if a normal healthy wave 3 retracement of only 23% or 38% occurs, then wave 5 could force its way through the resistance of the triangle with a potential for an additional 40% breakout. MY Plan - Just bought in at 1923 before writing this explanation. Stop loss for now as indicated at 1790, around 6-7% risk. Will scale. Target 1 is 2300 - based on wave 3 reaching 100% of wave 1 - sell up to 33% of my order. Target 2 is 2500 - based on wave 3 reaching 162% of wave 1 and hitting the top of the triangle - sell up to 33% of my order. If wave 3 stops short or 2500 - flash sell up to 33% of my order during retracement. Target 3 is 2500 (again) which is based on wave 5 reaching the top of the triangle - sell 50% of what I have left at the time. Whatever I have left after 2500 is holding out hopes for triangle breakout and unlikely target 4 - 3500.
QEducation
by bonesca
How I Made Money On A CUP AND HANDLE Pattern (QLCBTC)Dear Friends :) This is an educational post about the Cup and Handle pattern. I have noticed, that many people tend to misinterpret how it works. This is from an actual trade I made yesterday, which I made a bit of money on. Normally we want the following for a Cup and Handle Pattern to be valid: 1. We want the cup to be an U-shape and not V-shape. Check! 2. We want the cup not to be too deep and the same with the handle. Check! 3. We want low volume on the handle. NOT check! 4. It is usually a continuation pattern, which means, that we normally want to be in a prior uptrend when it occurs. Check! So as you can see, that we come from a prior uptrend, its a pretty nice U shape, not deep, the same with the handle, a steep downtrend on the handle. So everything except the big volume (brown circle) made this valid. So even though everything doesn't match 100 percent you can still enter a trade, if let's say other indicators also shows positive signs. Determine Targets A profit target is determined by measuring the distance between the bottom of the cup and the pattern’s breakout level, and extending that distance upward from the breakout. In this case I used Elliott Wave theory to determine it though. Please leave a LIKE for this educational post! Thank you so much, my friend :) D4 Loves You <3
QEducation
by D4rkEnergY
12
This will Work For YouA new coin is dropped into the market what to do? how to trade? This is a strategy that I use and it works exceptionally well, new coins are a risk in the market as you can't look at history to perform a thorough technical analysis . To trade you need to find the support and resistance level of your coin first; this is found off the first daily candle to close generally but in this example we have used the first 4H candle. Your resistance is at the top of the body of the first candle and your support is at the bottom. If the next candle closes over your resistance (green line) its a buy or hold if you already owned it and your stop loss then becomes just below this green line as you don't want to take any risks keep it tight being a new chart. Once you close over the green line your green line is your first support. If your holding this coin and the second candle of chart breaks your support (red line) then its a sell. If you break low you then will be looking when to enter the trade.... we enter when the first candle closes back over the red line on the way back up as the red line has then become your resistance and when a candle closes over it this will be your support. We have seen my trades on Storm, Ncash and ONT 0.00% we have all made a fortune on these but we entered at the right time and that was using this exact method. So for future rather then say when should I buy this new coin is it going to the moon, draw this on your screen and work from it and you will succeed. For better results use the first Daily candle to close as your support and resistance rather then the 4H. The reason I have split this chart is you can also see for aggressive investors they can watch the 30 minute time frames and get a gauge of not only the price movements they can see the accumulation indicator to see if this is trending up or down to let them know if its a buy or sell. This is only an indicator though and you still wouldn't enter until we have seen a close below or above your support. You don't trade based on any timeframe shorter then 4H closing over the resistance or below the support in my opinion. BTC -4.47% is moving down, I had spare time and I know loads of people love new coins so I hope this helps you all :) Cash Is King!
QEducation
by Cash-is-King
22