AMP is approaching edge to edge trading zone on the daily MA cloud. If we get a close above the MAMA average, I expect price to swing to the FAMA edge with good momentum.
The creation of the white doji is a good indication price is about begin trending in a direction, and the 4H momentum candle that opened after is a good indication price will continue moving to the upside.
Daily StochRSI positioned well, I am expecting a gain of ~50% on this trade.
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4H MA cloud is giving bullish sentiment with the MA crossing. This is a good sign that the trade is progressing as planned.
I will be waiting for a break of the MAMA and a retrace to the 4H MA cloud before looking to enter positions.
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Opening up positions on the good momentum into the MA cloud.
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+12% and climbing, making its way through the cloud. I'm expecting volatile price action as price tries to make it's way to the FAMA edge.
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I am manually closing this position for two reasons.
1) 4H Doji is forming on the chart, indicating a change in trend could be coming. 2) Very rarely do I see a daily bar that has no open wick. I expect price to retrace back to 4H cloud.
I'll be keeping an eye on this for a possibly reentry into the cloud.
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After price retraced today towards the cloud, it appears to be making its way back up to enter cloud area. If price has a good 4H momentum move into the MA cloud I will look at opening up positions.
Note I have slightly adjusted the entry/target arrows to account for the new daily calculations.
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Opened up positions on the good momentum move into the MA cloud.
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Closed at +8% to preserve capital while BTC is making new highs.