LSKBTC trade ideas
Lisk target and stop lossLisk show Tom de mark green 2+ and 1D stochRSI low so have potencial pump. Lisk waiting 4H slow stochRSI then start pump.
Target : 173932
Stop loss : 119816
#LSK LiSK 4hr bullish on MACDLisk #LSK is sitting inside an ascending channel which can definitely mean we are do for a correction so, but the 4hr MACD is bullish.
As long as the bottom line of the channel doesn't break then that's nothing to worry about.
Always set a stop loss
.......and 137k in the mid to long term should be a good entry point if you believe in the project.
LSKBTC:Hey friends,
Here is my TA for LSKBTC 1.46% .
I know we don't want to miss a huge really from any coins. Lsk can b a good opportunity to make profit. I have had a look at a few coins today and most of the coins are looking extremely good.
RSI is looking good in 1D chart.
Monero, XLM -0.96% , Qtum, Zcash ( only if goes above 333)
I will update you guys on the fly.
please let me know if anyone has different thoughts re this.
Happy Trading :)
A failed trade on LSK - introspection Today, I am going to do an analysis of one of my losing trade. Although winning feels rewarding, if you want to improve, there is no better school than reviewing a setup that failed - understanding where it went bad and what would have been the best solution, was there any mistake? This is a personal introspection of how i felt during the trade, why i entered the position, what would have been the best solution and why I believe this was a bad idea to enter this trade. Please feel free to leave a comment.
The idea was simple, an upward channel started early April (the 2nd) which is one of the easiest set up to be trading. Enter the trade on the lower band and exit the trade when price bounce on the upper band with a nasty 4.6 W/L ratio. I have marked few part of the chart and will explain those points in details.
N.B.:I will study the chart and not talk about the bitcoin crash which was I guess due to the huge btc movement (8.2K BTC) which may have caused the FUD - point 4.
1) I can see the price bouncing on the channel and I "FEEL" confident that the price is going upward in the near future and that was my first mistake! Never trade with your guts, trading is not about winning a single trade with incredible result (200% pump), that's called gambling and you'd better go to the Casino! I strongly believe that trading is a long term game where you manage to win over a long period. Losing happens, the question is "can you win over the long term?". This was a bad timing because the price was still under all 3 EMAs (especially the 55 which is one of my trigger), the cross over of the macd was not sharp and you can see it fluctuating between 0 for 12 hours.
2) that's where i should understand that the market might be going against me, the price is bouncing on the 55 ema and the next candle is red. the price is not going upward anymore and this is a correction/ retracement.
3) The price is breaking sharply under the lower band, my stop loss is triggered. but I know some people are not putting any stop loss (although this is the most important thing!!!) and thus will continue this trade as if i was still holding it.
4) A well known case of "Support becomes Resistance", the price is bouncing on the lower band of the channel, it will most likely decrease sharply again after that movement. if I haven't closed my position, the point (5) is where i should close it.
6) Let's talk about the RSI going down, 6 happens at the same time as 3. this is again a strong signal that the price has not finished it's correction,
Finally, I missed the powerful Elliott waves!! Although moving in a channel, you can argue there are 5 waves and the retracement could go up to 100% at that point. at the present time, it went to the 78,6% level and held that level.
What if I was working and could not monitor the chart, even worse, I didn't put any stop loss... The price went below 0.0011500 ! which means that at some point the trade was a 15% loss! What should I do??
Do you believe the price is going up or down and why?
At the present time, i don't think it is going further down, first because of the MACD divergence, there are lower lows which means that the downward movement pace is slowing down. In addition,I can see that the stoch RSI is increasing sharply (you can compare it to the previous ones). it looks like we have hit the bottom. Because of this, I believe that the correction of the elliott pattern is now finished, and price will now reach the 1st fibonacci extension : 0.0016800.
How I would play it and please bear in mind I am not a financial advisor! Again writing it down will allow me to come back on that thought and analyse my strategy! "I will get better!"
- Waiting for the confirmation candle crossing sharply the 55 EMA, checking the the next low of the RSI is actually above the latest low (Divergence), a sharp cross-over of the MACD- then ladder my buys to lower the overall cost of it.
Stop Loss AnalysisStop is going just below the 127,000 sat support level. However, I have a suspicion that 128,625 sats is maybe a tighter level to stop out on as the buyers are getting squeezed atm, but it may be too tight and I have not back checked this specifically.
The altcoin market is quite bullish right now so a continued breakout would be expected. However, a stop loss is required incase the market changes. I am expecting a decision from BTC in the next week or two which I suspect will affect the market.
LSK lookin' to reverseEverything adds up almost perfectly among the indicators right now.
RVI is low and is nearing past levels of strong support. So volatility and downward momentum is decreasing which is bullish. Room to fall then bounce off support.
This is mirrored on the stochastic as well as the TRIX.
We should see the price bounce off the bottom of the ascending channel at the 0.236 fib line before seeing a price extension to roughly the 0.618 level and this is confirmed by the contractions seen in the kumo.
Lisk tumbles on breach of strong support, on verge of 2w lowsAs you could see, LSKBTC at Binance has tumbled with a steep price slump after breaching below strong support at 0.0013100 levels.
Several times in the recent history has shown the strong demand zone at this juncture. Bears have managed to breach decisively below this level, this is backed by intensified selling momentum signaled by both leading oscillators (RSI and stochastic curves).
More slumps below EMAs are expected with most likely EMA and MACD crossovers. 7EMA crosses below 21EMA, while MACD also shows bearish crossover that signal bearish trend to prolong further (refer daily plotting).
However, on the flip side, LSK is one of the currencies to show the rapid spike in its trading volume that in turn has grabbed the attention of the prospective investors. Thus, a huge set of folks from investing class in LSK is observed for quite some time now, we are interested in analyzing all the driving factors for having Lisk as a lucrative avenue of investment. Most evidently, Lisk has teamed up with Abra, Microsoft etc for developmental objectives of its own Blockchain and secured trading platform.
The prime driving factor to own Lisk in a long term is that this cryptocurrency has shown some great stability on the contrary to the recent market trends, even during the severe market crash. Lisk has kept its cool not losing much in response to the majority of tumbling crypto-currencies.
Well, contemplating above technical rationale, as the pair is on the verge of hitting 2-weeks lows, we could foresee short-term selling opportunities, while accumulate longs on dips would be the strategy for long-term.
LSKBTC 1DLSK has tested the 50MA (blue) as support in the last 3 days. That to me, weakens it the strength of the support. However, as you can see in the past, LSK has historically bounced between .0013 - .00115. We see the 12 EMA (teal) starting to act as a dynamic resistance AND it looks like it will cross the 26 EMA (orange) shortly - which is another bearish signal. What the bulls are looking for as the first signal of confidence is a rally to above the 12 EMA and it must hold. This would be the only way for LSK to start rallying back. Even so, it would be rallying back into the channel of the bear flag and then test resistance at the 200 MA (pink).
Exit Recommendation
Since LSK has known to be historically volatile, I don't think a stop loss would be all that effective all the way until the .001 BTC level, or the bottom of the bear flag. Just because it breaks the first two horizontal support lines, does not mean it won't rebound back to those levels. On the flip side, just because it breaks the first 3 red resistance levels, does not mean it is immune to come crashing back down shortly. However, you can use these levels to either a) get out or b) observe price action more closely at those levels to determine the general sentiment/environment.
Basically, if you want to get out, get out now. If you think it can reverse before breaking support, then stay in for at least a week to see if it can break the bear flag formation, or 12 EMA can cross back over.
Another perspective on this includes the fact that LSK will be present at Consensus which is happening in a week. There definitely will be speculative behavior before and after the event which can drive the price up or down based off the sentiment. My personal lean is that this will be a 'sell the news' reaction in price. If we were to look at previous history (with a grain of salt of course), Lisk also attended Consensus 2017 on May 22-24th. From May 22nd to May 24th 2017, Lisk's price vs BTC went from .0000388 to a peak of .00075. In the next two days, from May 25-26th, Lisk fell to .0043 before catching support on the daily 12 EMA. It then proceded to rally higher. However from a trading persepctive, that was a completely different environment. It was in a bullish environment with the 12 EMA over the 26 EMA which was over the 50MA which was over the 200 MA (suggesting strong bull environment).
If LSK can deliver a solid presentation/product demo, it can incite optimism which could reflect in price. It would be greatly timed to get out of the bear flag but we have to see if it plays out that way in the next week.
However, I am of the bias that there will be a sell-off after Consensus 2018. And in a week's time I'll probably have a different opinions on these current conditions.
LSK looking uglyLooking at the weekly chart, we see LSK traveling in a rough channel I drew in white. First, I must say, I don't hold much weight in that as support /resistance but i like to use it to get a rough estimation of our trading ranges.
Anyway....
We've seen some bearish developments so far.
The past few months have not been kind to LSK. It has been dropping since February and after a HUGE sell-off on the week of 3/26, it has slowly bounced back. However if we look at the weeks going from April to May, most candles have a large upper wick which is a bearish signal. Everytime the bulls try to climb up, they are met by sellers at the top of each candle. This has formed a bearish flag on the weekly time frame. We also see the 12 EMA (teal) crossing below the 26 EMA(Orange) which is another bearish signal. As current prices stand, this week we are testing the 50 week moving average (blue) again as well as the big even support line of .0013. Even if Lisk can rebound off that sport, it still has to climb all the way past .00159755 resistance to form a higher high (in the short term). There are also multiple points of resistance based off past price action that will come into play IF LSK can break out of this bearish flag formation.
Those resistance levels/zones are:
.00168172
.00177834
.00202685
Personally, I don't see LSK breaking past the .002BTC resistance anytime soon. It would be LUCKY if it broke poast .001778-.0018 to be honest but if it does, I will provide an update.
As I zoom into shorter time frames, I'm keeping in mind the bearish environment that I feel LISK is in.
LSK upward movement ?Here a set up I will probably be trading on the 4 hours chart. A upward channel has taken place for the past 7 days and we do see what could be a bounce to reach the upper limit in the near future.
I can see a bullish RS divergence and the macd almost crossing over on the 4 hours chart which I believe shows that a reversal might take place. Although the volume is not showing the wanted strength yet, there is a bullish engulfing candlestick on the lower limit of the channel only after 1h30. I will enter the trade once i get the confirmation that the reversal is taking place - MACD cross-over/ 55ema cross-over with strong volume. target price around 0.0016 BTC
