It looks as though BINANCE:POEBTC is forming a . Should the break, we could see profits of up to 23%.
Using the height of Pole A, we can estimate the peak of the second rise; should there be one. The estimated peak from Pole B just happens to also stop at the peak of our Fib Extension.
Look for the price to break the . Although, if the price reaches the end of the , then we are looking at an entry point below the 0.236 Fib level. Look for an entry between the 0.236 and 0.382 Fib levels.
- Our 20-period crossed the 200-period MA roughly 12 hrs ago; indicating a . (Green Arrow)
- Look for the 50-period MA to cross the 200-period (Golden Cross).
- We have received a buy signal as the second green bar closed above the line. But, we're going to wait for the to play out before entering a position.
The T3-CCI will help us in determining if the trend is confirmed.
I've had class all day so haven't been able to update during the rise.
If you had a buy order set after the 0.236 Fib level, you could have rode it to our 2nd target price.
If we continue with the 2hr chart, we see that a wild Golden Cross has appeared. This is very bullish and is another confirmation that we are on an uptrend.
The future is looking green and if we keep our emotions on the sidelines, we can continue to make a nice gain on this coin.
Stop-loss set at 0.00000778.
Let's wait to see if this rise has the volume to support it.
I'll see you guys later on in the day.
I have been getting slammed with homework and wasn't able to provide some live feed during the rise and fall.
Congrats to those that held during the rise and took profits at our third target.
It's not a 150% rise, but the little ones add up.
Here is a great opportunity to practice discipline trading. Can you stick to your trading plan? Can you keep your emotions on the sidelines? It's something I've struggled with. But, with a lot of patience, you'll get better at it. Eventually, you'll get to a point where everything you do is objectively driven.
For those that may be in the negative, make sure that you have a number at which is the maximum amount that you can lose. This should be part of your trading plan when entering a trade. How much can you risk on each trade?
The T3-CCI is also showing very bearish signs as it crossed below the 0 line, indicating a downtrend. Should one or two more candles close in the red, we can consider the downtrend to be confirmed. And if you think about where the candles would be positioned, there is a good possibility that it has crossed the support.
If this is just a correction and we are going to rise, look to get in if there is a healthy rise past 0.00000818. Then, we're back in the game.
I'll toss another update tomorrow after my morning class.
Just killed an exam and feel great right now. On top of that, we've been making money!
Below you'll see the 1D chart. I've used the Fib Retracement tool for this update; connecting the BINANCE:POEBTC low with the high.
What's key to note here is the 0.5 Fibonacci level at 0.00000909, which is right at our 4th price target of 0.00000911. This hints at a major resistance/support around 0.00000910. Allowing some wiggle room for the battle between buyers and sellers, we could guesstimate it to be at this price +/- 0.00000020.
Below you'll find a 2hr chart which shows an updated Sniper T3-CCI. Unfortunately, TV does not update this as time passes.
Both of our T3-CCI readings show bullish behavior.
I will be looking to increase my position should it cleanly pass the 0.382 Fib level; while obtaining confirmation from out T3-CCI.
Busy so haven't been able to update yet.
But, as I'm sure you've guessed. We've closed our initial strategy.
I've had great success with POE over the past few months so look out for a new chart.