Most probably bullish scenario but keep in mind both possibilities.
@CryptoTrades #Decentraland #Mana #consolidation
@CryptoTrades #Decentraland #Mana #consolidation
Red Pulse Phoenix
First attemp to breakout resistance at 300-310 failed. Price dumps back to buy zone around 290 - 295. Market is hyped so we may expect another attemp and that time it might be successful. Set stop loss below previous support at 285 which is the last one that can bounce the price. If it gets below, most probably it will fall.
@CryptoTrades #PHX #consolidation
First attemp to breakout resistance at 300-310 failed. Price dumps back to buy zone around 290 - 295. Market is hyped so we may expect another attemp and that time it might be successful. Set stop loss below previous support at 285 which is the last one that can bounce the price. If it gets below, most probably it will fall.
@CryptoTrades #PHX #consolidation
Crypto Trades
Red Pulse Phoenix First attemp to breakout resistance at 300-310 failed. Price dumps back to buy zone around 290 - 295. Market is hyped so we may expect another attemp and that time it might be successful. Set stop loss below previous support at 285 which…
Red Pulse Phoenix
PHX is interesting again. Formed ascending triangle and can breakout. Might pullback to 310 support. Volume coming in so the picture looks similar with only difference that now it has resistance above left after previous two swings, so growth might no be so fast and pumping like before.
P.S. Old chart from our signal on 6th of March.
@CryptoTrades #PHX #consolidation
PHX is interesting again. Formed ascending triangle and can breakout. Might pullback to 310 support. Volume coming in so the picture looks similar with only difference that now it has resistance above left after previous two swings, so growth might no be so fast and pumping like before.
P.S. Old chart from our signal on 6th of March.
@CryptoTrades #PHX #consolidation
Crypto Trades
Red Pulse Phoenix PHX is interesting again. Formed ascending triangle and can breakout. Might pullback to 310 support. Volume coming in so the picture looks similar with only difference that now it has resistance above left after previous two swings, so growth…
📉 PHX 1H chart 📈
Hey, that was fast! Slow down a little, no need to hurry and pump everything as soon as we post it 😂
Buy back at 311-315. Close stop loss below 307 as in this scenario we bet on growing above consolidation channel (ascending triangle in this case) and lower pullback will change the picture and cancel trade setup.
@CryptoTrades #PHX #consolidation
Hey, that was fast! Slow down a little, no need to hurry and pump everything as soon as we post it 😂
Buy back at 311-315. Close stop loss below 307 as in this scenario we bet on growing above consolidation channel (ascending triangle in this case) and lower pullback will change the picture and cancel trade setup.
@CryptoTrades #PHX #consolidation
Consolidation is something which is feared by many traders.
Consolidation is something which should be craved by traders. It basically equals opportunity.
When the markets consolidating, it means price is taking a breather from the trend direction, ultimately providing traders with a chance to enter the markets.
Knowing the difference between good consolidation and bad consolidation is easy, if price is shooting up and down in a large price range, it’s best to stay away from it. That’s known as bad consolidation.
If price is trending upwards and taking short periods of time to readjust itself like in the image above, it’s safe to enter during these periods of time and that’s known as good consolidation!
@CryptoTrades #education #consolidation #signals #cryptotradespremium
Consolidation is something which should be craved by traders. It basically equals opportunity.
When the markets consolidating, it means price is taking a breather from the trend direction, ultimately providing traders with a chance to enter the markets.
Knowing the difference between good consolidation and bad consolidation is easy, if price is shooting up and down in a large price range, it’s best to stay away from it. That’s known as bad consolidation.
If price is trending upwards and taking short periods of time to readjust itself like in the image above, it’s safe to enter during these periods of time and that’s known as good consolidation!
@CryptoTrades #education #consolidation #signals #cryptotradespremium
Range trading is taking trades when price is in a range or consolidation.
Range or consolidation is when price does not have a trend. So, there is no uptrend or downtrend and price is moving between an identified high and low.
As you can see from the image above, price is simply trading in between the highs and lows, which we have identified as support and resistance.
Trading ranges can be very profitable, as it’s very easy to understand how price will move when it reaches the support and resistance levels.
Here are a few key factors to consider when trading ranges;
- Look for wick rejections
- 3+ Touches means a strong S/R level
- Too many touches means a weak S/R level
- Trade with the previous trend if possible
@CryptoTrades #education #rangetrading #consolidation #support #resistance #signals #cryptotradespremium #winningsignals
Range or consolidation is when price does not have a trend. So, there is no uptrend or downtrend and price is moving between an identified high and low.
As you can see from the image above, price is simply trading in between the highs and lows, which we have identified as support and resistance.
Trading ranges can be very profitable, as it’s very easy to understand how price will move when it reaches the support and resistance levels.
Here are a few key factors to consider when trading ranges;
- Look for wick rejections
- 3+ Touches means a strong S/R level
- Too many touches means a weak S/R level
- Trade with the previous trend if possible
@CryptoTrades #education #rangetrading #consolidation #support #resistance #signals #cryptotradespremium #winningsignals