GM guys!!!
Just thought to share an example of my typical trading setup using the following simple logic;
1.Divergences: From a combination of price action and depicted by candlesticks and RSI (Relative Strength Index) to spot possible temporal trends and trading opportunities
2.Fibonacci levels: to determine reasonable entries and exits positions for my trading setups, and
3.Other technical indicators for confirmation: Like Awesome Oscillator for example to confirm the trading setup and opportunity by indicating favorable market conditions such as momentum in the direction of expectation.
For this specific setup, swing targets of $14.60 (60%), $16.60 (80%) & $18.90 (105%) can take anything between 3 weeks to 3 months, maybe more, owing to a number of separate and/or intertwined factors including global market trends, Aptos tokenomics (next vesting schedule in about 12 days, unlocking approximately 3% of the current circulating supply), Aptos development and recent/upcoming partnership(s), BTC's dominance & market plays including the influence of the ETFs in and outside the US, fluctuating market sentiments as portrayed by the Fear & Greed Index, etc.
Hopefully, we can discuss this and more in one of our future online AMA sessions after covering the basics of cryptocurrency trading.
FYI: This is strictly for educational purpose only. This is NOT a trading signal or any such thing.
