A_Cryptastic_Mind
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ADX pointing a first eye at the moon again (100% profit potent.)

BITTREX:ADXBTC   AdEx / Bitcoin
Another one set for a potential upward break-out!

AdEx is trading on a strong support and has just formed a Heikin Ashi doji (those who follow me will know by now that I sometimes refer to this trading technique (e.g. Previous post on BlockMason resulting in a 100%+ trade in a matter of days).

The setting of this one is quite similar, although ADX is already trading under it’s longer term blue Fibonacci retracement (78,6). The daily graph shows us a triangle (or even a bull flag if you will). We have to break through it on strong volume to confirm upward momentum. Given that we have a doji right now, ànd a bullish cross in the MACD, makes me believe this one could be ready to provide us some nice returns as well in the upcoming days.

We also see very low volume for the time being, if there is a nice spike there soon, together with upward momentum, we will be in for a treat.

FYI – I also highlighted some previous dojis & spinning tops that preceded and indicated a trend reversal in the graph (see white rectangles that highlight them!).

We should break around 16000 sat to be in the clear (nice entry point).

Note that the horizontal lines are Fibonacci retracement levels; + the white horizontal is a separate support line.

Good luck
评论: By the way, if we look at the 4-hourly, we already see it racing its way up to the white resistance line of the triangle. Volume is up, bullish cross on the 4-hourly in favour of the upward momentum. If resistance is broken, then we are in for an even stronger upward move.

评论: I hope you paid attention to the forming of dojis in the meanwhile: as you can see, the 4-hourly made one after the bull run, directly followed by a first red HA candle. We can expect more downward retracement. My guess is here that it will fall back to the white triangle line as (previous resistance) as support, and that it will likely bounce off further upward. But the latter is a scenario that will have to be confirmed.

So for now: some downward movement to be expected further first.

评论: Looks like ADX (on the 4-hourly) keeps on testing that white triangle resistance line. A couple of days ago we broke through but the retest (before the bull bounce) failed and we fell back in the the triangle. Look at today's high, and you'll see we hit that resistance wall again. We are however nearing the end of the triangle, and given that ADX still has some partnerships to announce in the upcoming days, that might well be the trigger for an outburst.

评论: This is gonna be a tough one,

We got through shortly, hitting the blue Fibonacci resistance line to fall right back into the triangle. Moreover, we are seeing very clear indecisiveness (all the doji candles), low volume, and a MACD that's about to make a bearish cross soon - so we will likely fall back first. Let's hope next one is the charm.

评论: Note that the daily on the other hand seems to show an outbreak - but I don't like where the 4h is going.
评论: Yep - like i mentioned in the previous comment, the chart fell right back into the triangle - pretty bloody stuff. We are trading in a sideways rectangle for the moment. We do have considerable support, but we also have severe resistance from the blue level there. We'll need some more assurance before this becomes an interesting buy.

Please update Sir
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@Dieter1983, see update above; if you still have a position, you can stick to it and maybe also put some sell orders for the quantity you don't feel comfortable with. There still lies considerable potential in this one in the short term. But remember - triangles are UP or OUT.
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thanks man!
+1 回复
gltus
+1 回复
What are your targets? Thank you for the tip.
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@Dieter1983, Hi Dieter, I think we will have a "bounce-off" like is common with triangles. Have a look at my recent update for more info. I could see us falling back to 1450 first...
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Thanks for the chart. Looks like we broke resistance. Keep us posted
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@philcartier, yw - and an update in the update :-)
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Just bought some... Keep us posted when it fails
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