Komodo cup handle poised for breakout
Updated
KMD having formed a giant parabolic cup in the last few weeks is coming up to a handle formation.
It is now moving downwards in a channel forming the handle and possibly nearing the bottom and ready to break out to the upside,
target (in green)
0.0005695 or Fib 1, whichever first
Points of resistance:
Fib 0.5 (0.0004952)
Fib 0.618 (0.0005122)
Fib 0.786 (0.0005363) to 0.0005506
Entry: you can wait for confirmation on the breakout before buying in to be sure.
Stop loss would be bottom of the channel, where it exits to the break out.
Profits: Take profits along the way, I typical sell portions of my position to secure profits along the wya, before each points of resistance.
Goodluck!
It is now moving downwards in a channel forming the handle and possibly nearing the bottom and ready to break out to the upside,
target (in green)
0.0005695 or Fib 1, whichever first
Points of resistance:
Fib 0.5 (0.0004952)
Fib 0.618 (0.0005122)
Fib 0.786 (0.0005363) to 0.0005506
Entry: you can wait for confirmation on the breakout before buying in to be sure.
Stop loss would be bottom of the channel, where it exits to the break out.
Profits: Take profits along the way, I typical sell portions of my position to secure profits along the wya, before each points of resistance.
Goodluck!
Note
Break out in progress
Note
let's try that again. I keep forgetting to turn off my profit loss range.Note
I modified the fib a bit, first new resistance was broken at 0.00831
next target is around 0.0009145
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