LINK/BTC Swing Trade to Top of Large Ascending Triangle

20 May 2020

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Here we can see LINK bouncing off this very old horizontal support line. LINK has never closed below this trend line. Target is the top of the ascending triangle.


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Entry: 0.00040703

Entry Zone: 0.00040597 - 0.00041600

T1: 0.00041595
T2: 0.00042968
T3: 0.00044000
T4: 0.00046600
T5: 0.00049355
T6: 0.00051287

Stop: 0.00038249

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R:R: 4.31
Risk: 6.03%
Reward: 26.00%



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Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my trade ideas and are intended for educational purposes only.

21 May 2020

Not

T1: 0.00041595 - HIT! (2.19% Gain)
T2: 0.00042968 - HIT! (5.56% Gain)

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22 May 2020

Not

T3: 0.00044000 - HIT!!! (8.1% Gain) Love LINK!!!

22 May 2020

Not

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1 Haz 2020

Not

T4: 0.00046600 - HIT! (14.49% Gain)

1 Haz 2020

Not

LINK/BTC is again flagging out on the 4H chart. The measured move for the flag breakout is 0.00048750 sats. This would push us above horizontal resistance (the blue box) and the 0.236 Fibonacci.

1 Haz 2020

Not

If volume continues to increase and remains above the exponential, there is a great chance we will see price increase to the top of the Descending Triangle. From there, we could see a blue sky breakout!