CHRUSDT trade ideas
CHRUSDT - Symmetric triangle!CHRUSDT (4h Chart) Technical analysis
CHRUSDT (4h Chart) Currently trading at $1.24
Buy level :Above $1.26 (Buy after Breakout)
Stop loss: Below $1.07
TP1: $1.34
TP2: $1.44
TP3: $1.60
TP4: $1.80
Max Leverage 3x
Always keep Stop loss
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CHR / USDT in a falling wedge!CHR (Chromia), the parent of NFT game MyneighborAlice, has been recognized as one of the best startups in Sweden. It has pumped after great news recently.
As it is right now, CHR / USDT 1H is in a falling wedge.
If the price breaks the upper line of the falling wedge - I recommend that you wait for a solid confirmation - then enter a long position.
Take profit ideas:
TG1 - 1.30$
TG2 - 1.36$
TG3 - 1.43$
I keep it simple and clean!
Likes, comments, and follows are dearly appreciated.
Let me know what you think and which ones you would like for me to analyze next.
Trade safely!
CHRUSDT is creating a descending channel CHRUSDT is creating a descending channel after a breakout from the weekly ascending triangle.
If the price is going to have a breakout from the descending channel, According to Plancton's strategy (check our Academy), we can set a nice order
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
CHR on a bullish tearOver the past week Chromia has gone up 80%, but I believe there might be more in this ons. At this stage of the market cycle we shouldn't be suprised to see 2x or more moves.
Bullish:
- Touching on the -0.618 FIB (daily level)
- Strong bullish divergence on the MACD
- Descending wedge
- On a support level
Bearish:
- EMA's moving closer together
- Price has used the 50 EMA beautifully as support over the past weeks (red arrows) but has now broken below it. Will this mean that it'll also serve as strong resistance?
Setting my stop loss just below the most recent swing low and the 200 EMA.
How do you feel about this setup?
Potential 46% profit on ChromiaCHR is showing us major correction on possible wave 4 structure and this is the solid 5 waves structure we need to watch on current structure.
- Following the rules of alternation. If wave two is complex, wave four is likely to be a flat correction
- Wave 2 bounced right after it touched the .786 Fibonacci retracement level of wave 1.
- .382 Fibonacci retracement level is considered as the first support zone for current structure as this wave 4 is likely to be a flat pattern.
- Because the lowest point on the wave 2 is at .786 , the wave 4 must not exceed the .5 Fibonacci retracement level.
- Targeting the interim swing high at $1.4385 as the first target and $1.61 as the -.26 Fibonacci retracement level.
CHR could continueChromia came to our -1.618 FIB level to give us our profit targets. If you're looking for a play here, this might be the setup for you.
- Retracement to the -1.618 level we had already alligns with the .382 FIB level we can draw from the recent run
- Bullish divergence already on the RSI (could increase)
- Stop loss set below most recent swing low, support zone and golden pocket.
Safe trading y'all
CHR / USDTThere are at least three important technical points about CHR
1. Weekly RSI above 50 and tested
2. Daily RSI above 50
3. High market volume at current prices
Considering these few simple points, it can be concluded that it is a good time to enter this currency, and SLs and targets are very simply obtained from the general Fibonacci of this currency.