MANAUSD trade ideas
When market gives us worries we need to HedgeHi everyone,
so market is taking another turn and we need to act and react.
Do we panic and sell all our spot? Well if you think yes then you must have already paid the price a few times and haven't learned yet. Needless to say that if you are in this category you probably didn't take profit either when you should had. That's what happens to most, yes.
In this cases one can think like this:
Leave my spot intact and cover my exposure with a short position on some assets.
Look for a chart under resistance and plan accordingly.
Hope you like the chart.
One Love,
The FXPROFESSOR
For me that chart now is Mana.
Mana trying to flip the inv h&s neckline to supportIf it can succeed in flipping the neckline of this inverse head and shoulder pattern to solidified support, then the breakout target of the pattern should be around 1.28-1.30. It hasn’t validated its breakout yet though so if bitcoin takes a tumble, it could take mana down with it before it gets a chance to validate this pattern. Will likely see it decide which way it will go in the next 2-4 days. *not financial advice*
⚡️⚡️ #MANA/USDT - 900%⚡️⚡️⚡️⚡️ #MANA/USDT - 900%⚡️⚡️
#HODL
Entry Conditions:
- RSI Daily Trendline Breakout
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News Source:
finbold.com
Entry Zone:
1) 0.5985 - 0.9610
Take-Profit Targets:
1) 1.349 - 12.5%
2) 1.705 - 12.5%
3) 2.184 - 12.5%
4) 2.792 - 12.5%
5) 3.504 - 12.5%
6) 5.101 - 12.5%
7) 6.068 - 12.5%
8) Leave open to ride as could be parabolic at this stage
Stop Targets:
1) 0.2819 - 100.0%
Entry Conditions:
- RSI Daily Trendline Breakout
- Dubai’s Metaverse Plan Targets 40,000 Virtual Jobs in Five Years
We launched the Dubai Metaverse Strategy today, which aims to foster innovation in new technology. Dubai is home to over 1,000 companies operating in the metaverse and blockchain sector, which contributes $500 million to our national economy.
MANA/USDTesting/tracking elliot wave theory. Please do not trade off idea without S/L. Not financial advice.
RR: 19.7
Possible upside: 1200%
Possible downside: 61%
Timeframe is on the weekly.
Elliot wave cannot predict time so do not try to use the timeline shown here for your trades.
What Elliot wave can do is help predict tops and bottoms (no one can predict these 2 accurately)
With the predictions it's supposed to help you use it as a method to plan your entry/exit your positions.
MANAUSD (4H) Bullish reversalHi Traders
MANAUSD (4H Timeframe)
Waiting for the upward break of 0.9040 resistance level, which will complete a bullish trend reversal pattern to go LONG. Only the downward break of 0.8090 would cancel the bullish scenario.
Trade details
Entry: 0.9040
Stop loss: 0.8090
Take profit 1: 0.9620
Take profit 2: 1.0570
Score: 4
Strategy: Bullish reversal
Mana at strong long-term resistanceMana pumped last week 45% finding resistance at $1.08.
It seems quite difficult for Mana to succeed a valid breakout on this level, plus the next crucial resistance is 65% above the current price.
A fakeout is likely though and an excellent opportunity for shorts too.
The most possible scenario is a return to $0.75 and then down to $0.60.
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