MANAWBNB_728912.USD trade ideas
MANAUSD TA Time 30-3-2021Greetings fellow traders!
If this the most recent, then mana is about retest the support. It looks like mana wants to evolve into a bull pattern, bull flag or ascending triangle. Retesting is a support is quite inevitable at this point.
Short- & Mid-term: Bearish
Long-Term: Bullish
Good luck, be careful and may the trend gods be with you!
Decentraland (MANA) 29/03/21 UpdatePrice is currently consolidating after a push to the upside over the weekend. Still above the 20 and 50 moving average so bulls are still in control.Wait for price to exhaust a bit more and set your buys around the golden zone of 0.99000 which would be between the 50% and 61.8% Fibonacci levels. For a slightly more conservative entry you can also wait till price goes back to support level/trend line (0.80000).
DecentraLand (MANA) Testing support? Fall to 61% or 2x? Thank you again AquaHydroMan for the suggestion.
This one was complicated. News candled throw off trading and algos. However, we do see that once we ignored the news candle the fibs started aligning better. For new traders this may be a source of frustration or even intimidation while reading, but with time you will soon get the grasp on how to identify and read news candles as well.
Anyway, we are testing the 38% fib on the 4H and daily as support. We need a bounce and test as a confirmation prior to entering. Otherwise, we are likely to fall to the next support zone being the 61% fib.
People are in the comments complaining about being in drawdown but two things occurred: You are not using proper risk mgmt (ie gambling more money than you can afford to lose) or you did not wait for a confirmation to prevent unnecessary drawdown (ie. FOMO and emotions got you!).
BE PATIENT!!! trading is a game of patience. If you cant control your emotions consider being an investor instead of a trader. Set and forget, dollar cost avg, and do it consistently on high conviction stocks, assets, coins, etc....