Potential for reversal of downtrend

2019年7月12日

FTM is forming a double bottom pattern with decent volume. If more volume comes to confirm, this could be the reversal of its downtrend. Also the recent fundamentals(weiss ratings review, token swap bridge with binance chain) of the coin are in sync with the double bottom pattern. Targets to look out for if the setup is invalidated are mentioned in the chart. RSI is clean.
- Also look out for triple bottom reversal

2019年7月14日

交易手动结束

I forgot to update this post. Closed the trade at 235 sats itself as the volume was not following through

2019年7月18日

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2019年7月18日

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2019年7月19日

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It is forming a base fore wave 3. The third reversal from the bottom is in sync with the Dubai partnership Fantom foundation has made to transform Dubai into a blockchain powered city.

2019年7月19日

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Buyers are taking control

2019年7月20日

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Tight consolidation at 200 sats. Will breakout anytime now.

2019年7月25日

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This market finally took off.

2019年7月26日

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Don't take these updates seriously. I am experimenting with this market for short term trades. -

2019年7月27日

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2019年7月28日

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Woke up to see this wedge getting steeper than expected. Breakdown can be early in the 280-300 sats range. Breakdown will not be a free fall. The maximum it could fall i s upto 250sats where it formed market structure support on the 4 hour chart.

2019年7月28日

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It can breakdown now itself

2019年7月29日

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Wave (3) has started and would top at 325 sats. Trying to trade subwaves of this wave

2019年7月30日

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Yesterday, I had a suspicion that the flat correction might be playing out despite high volume showing up in new wave 1. So I sold at 270 and kept a stop limit at 270 with trigger at 271. I was lucky that market came as high as 270 and and didn't trigger my stop. Now it is at 255 sats also the 61.8 retracement of wave (B)(new wave 1). There is a possibility for wave (C) to retrace 100% of wave (B). If it doesn't retrace 100%, these waves (B) & (C) will be treated as waves 1 & 2 of the new bull cycle as I did earlier. The high volumes in wave (B) is deceiving to get into a bull trap.

2019年7月30日

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2019年7月30日

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This may be the correct elliott wave count

2019年7月30日

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I will not be shorting from now on as I think this is gonna go parabolic

2019年7月31日

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New post -