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RVNBTC

RVN Symmetrical Triangle 50/50. Pivot Points. Price clamped.RVN / BTC on the coin a month ago a downward wedge was formed, which was broken up. In this regard, a local upward trend for 1 month has formed. This trend gave a price increase of + 52%. Then the local uptrend changed to a downtrend and the price returned back to the purchase zone. Also in the purchase area you can see a huge shadow of 18%. They directed the price there specially, broke through the previous support, collected liquidity, as most traders thought that there would be a continuation of the downtrend. But it was not there. We collected all the liquidity at the lowest prices and pulled the price of the bistro up 18%. I think that the one who worked the stop loss under the support will not want to buy a coin more expensive by + 18%. Passengers are thrown off . The coin has a clear presence of a major player who skillfully manipulates the price. At the moment, a symmetrical triangle has formed on the coin. The chances of a breakthrough rise / fall in such formations are 50/50. The price is in the corner. Coming soon. Entrance on the breakthrough of the triangle. Or at a rollback of the price, depending on who has what strategy and manner of trading. I don’t specifically write about stop loss, it is a moot point to use on such coins. You yourself see how the shadow of a candle collected stop loss from the crowd. What matters here is not the size of the stop loss, but the moment you enter the trade and understanding what is happening. I showed all levels and pivot points on the chart. ________________________________ I have been trading this coin for several months. Here are the old trading ideas that worked well. RVN. Cycle. Coin for the pumps. Global target. Published September 17th. RVN Falling Wedge. First target + 30% Figure potential + 100% Published September 17th. And the result after 3 weeks + 50% If you do not trade on the waves, and so much more profit. _______________________________________ Symmetrical triangle. The figure is a symmetrical triangle is a very common figure, which does not have a pronounced direction, as it is characterized by a balance between supply and demand. 50/50. The figure is formed of two converging lines (resistance line and support line). The intersection of these lines is called the top of the triangle. The amplitude of fluctuations within the figure decreases, as indicators of trade volume gradually decrease. Support and resistance lines have equal angles of inclination. This triangle shape resembles an isosceles triangle when the bisector divides it exactly in half (pink line). The price when breaking through a triangle can go both up and down. You need to understand that this model of a triangle gives a chance to go up or down in a ratio of 50/50. In such models it is very important to work from the situation. ____________________________________ Features to which you should pay attention when forming this model of a figure. 1) There must be a minimum of 4 points of contact 2 touches to the ascending line of support and 2 to the descending line of resistance. Then later touch points on both sides should tend toward the horizontal center of the triangle. And it is worth noting that the more points of contact, the more reliable the figure. 2) The trading volume as the formation of the figure should decrease. 3) if inside the symmetric triangle (component of the triangle wave) the price increase is accompanied by an increase in volume indicators, then it is most likely that the figure will be broken up. And vice versa, if inside a symmetrical triangle a price drop is accompanied by an increase in volume indicators, then most likely the figure will be broken down. Do not forget to look in the tape of sales. 4) The ideal moment for a breakthrough is considered to be the moment starting from half to 3/4 of the figure. A break in the first half of the figure, as a rule, turns out to be premature, and in its last quarter, most likely, will be insignificant. 5) Symmetric (isosceles) triangle - a figure of the continuation of the trend. Most likely, the price will break through the support / resistance level and go in the direction of the trend. This is in most cases. It happens that an isosceles triangle reverses the trend. The direction of the price movement depends on the side on which the price has left the figure. Therefore, the direction of the price movement into which the triangle made its way, rather than the previous trend, is more important. A symmetrical triangle can very rarely reverse a trend. 6) the proximity of significant levels of support / resistance can also affect the direction of price movement. 7) Sometimes, the horizontal center of the triangle becomes a line of support or resistance (pink line in the picture). 8) If the upper resistance line has been broken, it becomes a support line. The broken bottom support line later becomes a resistance line. Sometimes after breaking through the price as a result of correction may temporarily return to this line. 9) The breakthrough of the figure should be convincing. It is desirable that a breakthrough in the direction of the dominant trend be accompanied by an increase in trading volume. When breaking against the trend, a sharp increase in trading volume is a prerequisite for confirmation. 10) An important breakthrough is not so important, namely, fixing the price outside of support / resistance. 11) The goal when working out a symmetrical triangle after a breakthrough is equal to the absolute value of the base (the widest part of the triangle) added to the price exit point. ______________________________________________ The target of practicing the shape of a symmetrical triangle. The target of working out the figure is equal to the height of the widest part of the "Symmetrical Triangle" (price range from support to the highest peak). We measure the distance of the widest part of the figure and debug it down at the point of breakthrough of the triangle.
by SpartaBTC
$RVN, Descending channel testing support level at ~305 sats...$RVN Inside a descending channel testing support level at ~305 sats Breaking from here could lead to big recovery back to ~350+ sats For now just set alerts and wait for it to happen or take a risk with a SL under support... #RVN Over the last few weeks I have been managing my Stop losses, Take profits and trading in general through the "Smart Trade" platform that 3commas offers... It has been a really nice experience Thanks
by CryptoNTez