Long Siacoin/BTC
Updated
Weekly bullish engulfing setup forming on Siacoin / BTC.
Lower time frames have switched to higher highs and higher lows so I am taking a swing trade up to the previous lower high from EoY 2018.
Risk for my stop below the low is 15%. And my target is 69% away leaving me with a 4.7 Risk/Reward ratio.
Our Weekly Slow Stochastic cycle is also rising and price has made it above the 8 EMA showing strength from the buyers.
As long as BTC doesn't tank I believe this setup will be quite profitable.
A trader wanting better confirmation can wait for the weekly close. Do note you will reduce the R/R a bit by potentially being further away from the stop loss.
Lower time frames have switched to higher highs and higher lows so I am taking a swing trade up to the previous lower high from EoY 2018.
Risk for my stop below the low is 15%. And my target is 69% away leaving me with a 4.7 Risk/Reward ratio.
Our Weekly Slow Stochastic cycle is also rising and price has made it above the 8 EMA showing strength from the buyers.
As long as BTC doesn't tank I believe this setup will be quite profitable.
A trader wanting better confirmation can wait for the weekly close. Do note you will reduce the R/R a bit by potentially being further away from the stop loss.
Trade active
Still invested in this one! Chart looks better than ever too. Expecting big moves after our ADA and EXP gains.
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