✴️ Komodo Looks Good | Daily TF Analysis + Basic Tips

23 sept. 2023

Some charts will tell you to wait, we can end up with the feeling thinking "the market is not ready, more time is needed before the bulls show up".

Other charts are like so far ahead, that we can think something is wrong. Literally, we see pairs that already produced 10, 15 and even 20X or more.

Then another group of charts look just ready, ready to go up.

✔️ Komodo (KMDUSDT) is part of the last group, ready to grow.

This is moving above EMA50 today, which gauges the medium term potential of any Cryptocurrency trading pair, in the sense that any trading above this level would signal that the bullish potential is active while below signals the contrary.

✔️ Komodo moved above EMA50 in January and sure enough nice growth took place.

✔️ Komodo is trading above EMA50 today and this signal confirms once the session closes in a few hours.

We have a long-term higher low, a repeating theme across many pairs and also a strong RSI while prices trade near support

If you have a strong RSI at a new high, this can even mean bad news as a drop can happen next but seeing a strong RSI at bottom prices can signal the start of a new bullish wave.

This chart is pretty standard, looks good... If the market changes we change with the market, adapt and change.

If prices drop, if we have an open position depending on our trading plan or strategy, we can either buy more or close the position at a loss.

If prices go up, we can wait for resistance to hit or sell portions as the bullish wave develops... It depends on your plan of course. There are many was to approach the targets, there many ways to deal with support.

We trade long-term, so we mostly buy and hold.

Namaste.