Particl 68% Trading Opportunity (3-4 Days)

BITTREX:PARTUSD   Particl / Dollar (calculated by TradingView)
What happens when one trade opportunity fails? We look for a replacement. Here is another opportunity at a trade that we will keep close eyes on. If it breaks past that red support line then we can automatically close this trade without entering, and we know there was a mistake in analysis. But we want this coin to stay bullish and consolidate just for the next day or so. So the only thing that makes sense to me here would be a descending wedge pattern, so we'll look for entry at the bottom of the wedge . I will try to only enter towards the VERY end of consolidation, there is no reward to pushing the correction and entering too early here.

This is also possible to never become active if there are too many bearish signals.

Entry: Under $39.66
Stop Loss: $35.73
Target: $65.76
Chance to Gain: 63.35%
Chance to Lose: 10.10%
RR: 6.25

Consolidation target: 1-2 days (This is key, we don't want it to be too long)
Total trade time: 3-4 Days

We manage risk and look for signs of reversal. I cannot tell when to buy and sell. This trade will be played by ear and of course is subject to change over time.
Bình luận:

This is not a very likely scenario, but our eyes have to be peeled for this to be the full wave 4 correction. In my opinion, this is likely to fall, but we CAN break resistance and head to our target.
Bình luận:

We're facing this cup and handle formation and I think this will be a very nice opportunity. We will wait until the very last moment of consolidation as long we get a bullish divergence on the 4 hour MACD and it forms a similar correction to this.
Bình luận:

It's possible that what that was right there was an impulse wave, but I'm not entirely sure. I think it is still a part of the correction, which would make me think that we still have at least another wave down. But I will stay patient on this. I will only enter if I see it staying above the 15 min RSI support line OR if it breaks past and closes above resistance. These smaller market cap coins can be tricky.
Bình luận:


Works like a charm, no idea why i haven't been using it.

This is definitely a breakout and the waves are confirmed here. $51 is my short term target here. There was an ABCDE correction in the triangle to the left. Buying in here for the quick trade and exiting for re-evaluation for a larger 5 wave structure. Truncated 5ths can happen after powerful wave 3s, so it's possible that this can be it. More updates to come!!
Bình luận: Target can be as high as $54.

Sidenote: Listening to 50 Cent
Bình luận:

I can't tell if this is a part of the bigger correction or not, but it failed to reach the short term target last night. So it'll probably fail to reach this. Just a big waiting game on this one.
Bình luận:

It is a part of the bigger correction. LOL

So I like how this is playing out. We're coming to our support levels and we really need to stay above them. I think we will! We have some very nice buy walls that actually haven't moved for the past day and a half. I added to my position right here, and I expect this correction to continue for the rest of this day? After that I think we can head to our target!
toy is stoch rsi? lol Ichimoku is also useful imo...
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Eball8 Spaceballs
@Spaceballs, YES, holy crap why has no one ever told me about this!! LOL, I will check that one out too!
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