ONEUSDT trade ideas
ONE/USDT looks promising in 4HHey there.
Since Harmony has bounced from support line of triangle, there is a chance that ONE/USDT rally to resistance line. A break and close above the resistance line could potentially have a primary target around $0.22 and a secondary target around $0.26.
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FireSale at ONE. Dollar Cost Average InMulti Timeframe Analysis
Hint: ONE is at an all time low since November and could be winding up to surge
BTC tanked the crypto market including Harmony. The coin currently sits on a strong level of support marked by aggressive buying that began at the 0.156 range.
If 0.156 is broken, strong suport can be found at 0.1265 denoted by a spike in volume profile coinciding with Weekly structure.
The bullish uptrend has not been broken. Expect One to range a bit then continue regaining after its losses.
Market order position upon the confluence of valid entry rules on the 4H or 1H chart.
-=ENTRY RULES=-
Trading philosophy: Don’t short at the lowest of the bearish momentum nor do we long at the peak of a bullish impulse. The safest entries are at the end of a retrace on the 38.2%, 50%, 61.8% or 78.6% fibonacci back in the direction of the master trend.
Note: I use Daily/4H or 4h/1H market structures with wave analysis to prep for potential entries. The RSI , MACD and EMA indictors are confirmation for entries at the 4H or 1H timeframe
For SHORT:
4H chart should confirm that the bullish retrace had turned bearish in the direction of master trend. The MACD should have dropped below zero signifying a bearish environment. Price would have dropped below the 10 and 20 EMA . For good measure, check that the 4h and D1 RSI is below the 50 signal line
For LONG:
4H chart should confirm that the bearish retrace had turned bullish in the direction of the master trend. The MACD should have gone above zero signifying a bullish environment. Price had gone above the 10 and 20 EMA . For good measure, check that the 4h and D1 RSI is above the 50 signal line
About me
I am not a financial advisor nor a signal provider. These are the opinions of a 20-year private trader in the legal profession as well as a businessman diversified in the tech and hospitality industries. My favored tools of the trade include wave analysis, price action on the 4H to Weekly timeframes and institutional order flow.
Short Term Harmony One Swing Short.BINANCE:ONEUSDT
Harmony peaked at $0.194 cents, just above the pitchforks upper parallel lines of both the White (Schiff Pitchfork) & Yellow (Original Pitchfork).
The RSI reached overbought levels and the DMI noted that the trend was changing when the +Di failed to reach the ADX line at a new high. (Yellow Box)
Price predictably dropped to the median line of the yellow Schiff-fork.
I observed that the -DI is beginning to cross up above +DI and the ADX line, and it appears that a short-term descending triangle (green) is forming.
I am targeting a further drop to the median line of the white pitchfork.
I went short at $0.188, and I am targeting the $0.182 level to take profit at the white median line.
Stop-Loss set at $0.19
ONE - TP/SL for this triangleBINANCE:ONEUSDT
1H trend chart
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ONE is converging in a triangle, and there is a possible bottom in it.
If price can break out the downtrend line, trading strategy as below.
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Profit Targets:
a) 0.2----Fib(1)
b) 0.20892~0.21252----Fib(1.272~1.382)
c) 0.22026----Fib(1.618)
Stop losses:
a) 0.18802-----Red horizontal ray
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Have a nice trading!
ONE - Crash and new countHarmony was one of the most affected coins in the crypto crash, and we went all the way down to the trendline.
My long term wave count wasn´t invalidated, but I made a new count on the subwaves. Am I confident with this count? Not really. The drop was too steep and the corrective pattern is not clear.
Anyways, I will take long trades on small positions above $0.20, carefully controlling my risk.