1. *Higher time frame analysis*: Identify support and resistance levels on at least a 15-minute chart to understand the bigger picture. 2. *Chart patterns*: Look for patterns like triangles, wedges, and channels to anticipate potential price movements. 3. *Fibonacci retracement*: Use Fibonacci levels to predict potential reversal points and confirm trend direction. 4. *Volume and moving averages*: Monitor volume and moving averages to gauge market sentiment and trend strength. 5. *Stop-loss*: Always set a stop-loss, especially for overnight trades, to limit potential losses.
Additionally, it's great that you:
- Used automated Fibonacci retracement to identify potential reversal points - Analyzed the chart to confirm the trade setup - Secured a profit of $120 while managing risk
Remember, discipline and patience are key in trading. Stick to your strategy, and don't hesitate to adjust it as needed based on market conditions.
Keep sharing your trading insights, and let's continue to learn from each other!
Good bye $OMG we had a good time with this project always stuning and making good marketing
Once a time $OMG leads the altcoin market
Now focus on Notcoin and IO.net to make profits but do prefer notcoin becuase io have some settelments in market notcoin did complete all the sentiments of the market
Notcoin now not have any support behind see the picture📉📉
I'm eyeing a potential Head and Shoulders (H&S) pattern on the 15-minute Notcoin chart, mate! This could be a sweet short-term reversal play. If the pattern confirms, we might see a bounce or a trend change.🔻🔻
2. *Bearish Reversal*: If the H&S pattern forms in an uptrend, a bearish reversal might occur, and the price could fall. The target price could be the neckline support, or even lower, depending on the strength of the reversal.📉📉
3. *Consolidation*: In some cases, the price might consolidate or sideways after an H&S pattern, instead of reversing. This could be a sign of a pause in the trend, rather than a full reversal.
🔻🔻🔻
Notcoin now not have any support behind see the picture See the major update
Yesterday, I posted an update about Notcoin's downtrend. Today, I have further insights to share. The reverse parabola indicates a breakout movement, signaling a massive downtrend. The liquidation charts reveal that many traders are short-selling Notcoin.
Technical Analysis
From a technical perspective, the Relative Strength Index (RSI) is displaying strong bearish signals, while the Moving Average Convergence Divergence (MACD) and 3-day Moving Average (3MA) are losing potential.
While it's essential to do your own research (DYOR),
Still oppertunity:
there may be an opportunity to sell Notcoin and short-sell to lock in profits.