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BALUSDT trade ideas

Double bottom - BALUSDT Review 📚Good day everyone. Today I'll be discussing on the double bottom trend reversal pattern. 1. DEFINITION What is a Double Bottom? A double bottom pattern is a technical analysis charting pattern that describes a change in trend and a momentum reversal from prior leading price action. It describes the drop of a stock or index, a rebound, another drop to the same or similar level as the original drop, and finally another rebound. The double bottom looks like the letter "W". The twice-touched low is considered a support level. 2. ENTRY The entry ( buy order) in double bottom pattern is placed just above the neckline resistance. 3. TARGET ( TAKE PROFIT) The target of a double bottom pattern = the distance of the bottom head to the neckline resistance. When a double bottom is spotted in a channel or rectangular pattern support. Your target should be the channel resistance and rectangular pattern resistance respectively. 4. STOP LOSS AND SETUP INVALIDATION The setup invalidation is a breakdown below the double bottom support. The stop loss is half the distance of the setup invalidation. 5.TRADE EXAMPLE I'll be using my analysis on BALUSDT as a trade example on double bottom. The trade played out as expected from my previous analysis. My buy entry ⬆️ - breakout above the double bottom neckline resistance. My targets 🎯 - previous swing high, ascending channel resistance. My setup invalidation ❌ - breakdown below the double bottom support + ascending channel support. My stop loss 🔴 - setup invalidation / 2.
Education
by Chibuike_Odoh
#BALUSDT (watchlist)What we mean by Add this coin to the watchlist ?! 👀 This means the coin we mentioned shows a reversal pattern or moving near a historical bottom, around or above good support, increase in trading volume, accumulation stage, etc, so, we tell you to keep your eyes on this coin until the right time for entry and buy. In the end, This is not financial advice, The purpose of these Charts to give you an idea about coin movement (not buy or sell signal) so before following any idea be sure to do your own research, and follow your risk management. Also, the information we mentioned here is a personal effort that is subject to success or failure and we welcome constructive criticism, Hitting "like button" and leaving your "comments" below our thoughts is great and supports us provide more ideas❤️ Good luck to all. we ask Allah reconcile and repay🙏
Long
by HamadaMark
3
BalusdtBINANCE:BALUSDT What we see now ? 1-the price at 15$ 2-the next resistance at 16,9$ 3-the support level at 13,10$ 4-there is 3 positive buy signals are active 5- the candle is above downtrend line What we have to do now ? 1- wait for daily closing above the downtrend line then it’s a good opportunity to take a position in this trade 2- take profits in resistance levels 3- follow the robo sell signals if you see 2 of 3 the close the deals Trade with you own responsibility
Long
by Engineer-ibra
4
Balancer (BAL) - Higher lowsFollowing a 70% correction (now 50%) and oversold condition, price action on the above 1-day chart is now printing a strong trend reversal. The higher lows in price action are also mirrored by the oscillators with higher highs in RSI and Stochastic RSI. Very bullish. 1st target $27 Should RSI support remain active (blue line) after target price is met then price action is expected to be in uptrend until mid-2021. The weekly chart (below) printed a long tailed Dragonfly DOJI indicating strong buying pressure in the weeks ahead.
Long
by without_worries
BAL - potential 77% tradeHello, Traders! BAL is testing the upper bound of the consolidation range with a level of $13.24. MA100 on the 1D timeframe acts as a dynamic support. Entry into the position could be interesting in the range of $13.24-13.68 after retesting of the level of $13.24 with the upward trend. We can set SL under $12.20 Target price levels: $16.06 $18.84 $23.55 Good luck and watch out for the market. P.S. This is not a piece of financial advice, but only a trade i would be following myself
Long
by UnknownUnicorn10064030