PowerLedger (POWR) Falling Wedge: 400% Profits PotentialI first traded PowerLedger (POWR) last year, it was a very nice, profitable and fun ride. After sharing this coin on December 12th, its price shot up massively and increased almost 5x. After an incredible bull run, great profits generated, POWR, like all other coins went on a retrace. A hard and long retrace which can be clearly seen on the daily chart above...
### PowerLedger (POWR) Trade Analysis by Alan Masters
SIGNALS AND INDICATORS
- "Falling wedge" pattern, which is a bullish formation.
- Orange circles, marks the bottom from early December. After this bottom was reached, a strong breakout happened and POWR went on a very strong bull run. Now, we've touched this bottom again and POWR has responded strong.
- We went almost on a full retrace from the last all time high and you can see the accumulation happening on the daily chart based on the positive divergence that can be seen on the MACD. Which is another very bullish signal.
- MACD and RSI are trending upwards. Trending up with plenty of room for growth.
- Low volume allows for more growth as well.
- These are just some basic signals, but they all look very positive.
- The weekly chart is very young but it also allows room for growth and it is calling for some positive action.
Now let's move to the details on how to trade this coin...
TRADE INSTRUCTIONS
Buy-in: 0.00004250 - 0.00005280
The above buy in is set for long term traders. It is useful with the long term targets that you will see below.
We set the bottom for PowerLedger (POWR) at 0.00003650 on 18th March, from which point we bounced and started to trend up. If we break below the above buy-in, you can wait again for the bottom to be re-tested and later buy in. You can also buy in and hold long, as we have already bounced strong from bottom and we are trending up.
PowerLedger (POWR) Targets:
LONG
(1) 0.00006143
(2) 0.00007683
(3) 0.00010173
(4) 0.00011953
(5) 0.00014213
(6) 0.00020743 (New All Time High)
MEDIUM
(1) 0.00005961
(2) 0.00007381
(3) 0.00008401
(4) 0.00009691
Use these prices above as reference to sell some of your coins for profit. We are likely to face resistance each time one of these price level is reached, which is followed by a retrace. You can sell at these prices and buy back lower, or simply sell to secure profits. You can get our "How To Sell The Targets" article for additional information on how to maximize profits when selling the targets.
Stop-loss: No stop loss is needed here since this is a long term trade. The long term potential of this coin is obvious, based on the chart signals and analysis mentioned.
You can use a stop loss of 0.000041 if you are a tight trader looking for short term. If the price breaks below this level, you can pull out expecting to buy back in lower. At this time, with the huge potential ahead, this is a good buy & hold.
Other trades are not going to be this detailed for every point, but I am sharing in order to remind ourselves the different options we have when trading these coins. But this is all pretty simple. Buy low to sell high. Buy and hold. Patience is the key.
### Message: We Keep On Growing - We Keep The Growth
As I grow, every single day...
I get the feeling of passion, other people with love and spirit, interacting with me in many ways.
As I keep on growing, which we all do; daily anyways, more challenges keep on coming, more lessons need to be learned.
So the challenge continues and live goes on. The appreciation of the experience is unique, each time it becomes better, more meaningful, stronger... as long as WE KEEP THE GROWTH!
Namaste.
