THETA just printed an enormous wick on the daily chart.
This is most likely a minor degree blow off top, signalling the next wave down.
Wicks can be surpassed, but in crypto a wick like this is unlikely to be surpassed without first slumping further down.
The wick is equal to the distance before the next liquidity pool at and below the 6 Feb wick.
This sets up a simple 1:1 trade to take profit before that pool.
Entry: Now
TP: $0.158
SL: $0.2530
Not advice.
This is most likely a minor degree blow off top, signalling the next wave down.
Wicks can be surpassed, but in crypto a wick like this is unlikely to be surpassed without first slumping further down.
The wick is equal to the distance before the next liquidity pool at and below the 6 Feb wick.
This sets up a simple 1:1 trade to take profit before that pool.
Entry: Now
TP: $0.158
SL: $0.2530
Not advice.
Note
Slight correction: the 1:1 completes at the wick low. To avoid the liquidity pool simply take profit before 0.1587 - almost a 1:1
Broker I use: Vantage ✨
vigco.co/la-com-inv/8g5DVv78
Private Group | $50/month 💡
Contact | t.me/ThinkFastTrading
vigco.co/la-com-inv/8g5DVv78
Private Group | $50/month 💡
Contact | t.me/ThinkFastTrading
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Broker I use: Vantage ✨
vigco.co/la-com-inv/8g5DVv78
Private Group | $50/month 💡
Contact | t.me/ThinkFastTrading
vigco.co/la-com-inv/8g5DVv78
Private Group | $50/month 💡
Contact | t.me/ThinkFastTrading
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.