NANO/BTC Idea - Patience for Long Setup

11 paź 2018

Here is a setup that could reap large profits if it comes to fruition...

Looking for a retest of previous price levels, along with the RSI to retest its previous low.

The 2 main supports I see are in yellow. It is possible to bounce from the first yellow square. However, I will not open a trade there. If price enters the 2nd yellow zone, and if the RSI enters the second yellow zone, that could be a great trade setup, with a great Risk/Reward profile.

So I am setting a buy order just above 2nd support level (our previous major low), and see if the price reaches in next days.

It very possibly may not, but I will remember to protect my capital at all times, as should you :)

Be selective with what trades you take!

Good luck traders :)

11 paź 2018

Uwaga

11 paź 2018

Uwaga

^ Same chart, but I redrew my lines on the RSI to a different possibility.

In theory, price could rally anywhere between the first and second yellow support zone, and that would be a higher low. Keep this in mind.

For my personal trade, I may ladder in a 25% or so part of my position if/when RSI touches the yellow zone in my 2nd drawing, and price is somewhere between the two blue lines.

Please understand that this would be an inherently higher-risk trade.

Good luck!

11 paź 2018

Uwaga

I just realized that saying "touches yellow zone" could be misleading. I drew the zone pretty large so you all can see it. But I'm really looking to buy just above the black line, preferably after a retest followed by strong buy volume. But if you are not able to set alerts and don't have the time to manually make a trade in a timely manner, you can just set buys for the zone (higher risk). Thank you.

14 paź 2018

Uwaga

Stay steady

14 paź 2018

Uwaga

The RSI bounced beautifully off of the blue support line. I will still wait for it to enter the yellow zone to make this trade

14 paź 2018

Uwaga

It is a lower low, as well. Patience will pay off

15 paź 2018

Uwaga

prnt.sc/l6g9xf

15 paź 2018

Uwaga

I was hoping the last link would be converted to a picture....

Anyways, here we are with NANO, it is now in the first yellow buy zone. If you are one to ladder into a position, I suppose you could ladder in to 20% of your long here. However, I am going to wait until RSI breaks into the yellow zone to buy, as I still think price can go lower, and has a good chance of briefly entering our 2nd yellow buy zone, where I will open my long. We are very close to breaking support on the RSI if you go to the link above you will see!!

Best of luck traders :)

17 paź 2018

Uwaga

The market decided our first yellow zone was enough! We could retrace, though it was quite a convincing candle. I did not get in the trade, but maybe some of you did! It has a great setup I think. I will not update unless I get into the trade in the future. Good luck :)

18 paź 2018

Uwaga

I'm calling for a retest of our first yellow zone in coming day or two, and perhaps we will reach the second zone. Patience pays :) Will update

14 lis 2018

Uwaga

We are back down to our first buy in zone, right on support. I've got my orders ready for the top of the second zone, let's see if we get there! I bought 10% of the amount I allotted for NANO at this price level.