KNC - Bullish Case Made - Low Failure Rate #KNC #BTC #kyber
I have been building a position in KNC. Added to position during dip under 1400 yesterday (3/29). Below is a bullish case, bearish case and an observation. On all items, but the observation in particular, I'm definitely open to challenge. That is, if anyone sees an error, please do point it out.
Bullish Case:
-TK Cross on the 12 hour
-Lagging indicator above price on 12 hr
-Bullish Divergence (RSI/Price)
-RSI approaching breach of midpoint
-At major resistance turned support level (9 touches on the 12 hr in March)
Bearish case:
-Price below cloud
-Lagging below cloud
-Cloud itself is bearish
-Overall market trend is bearish - Any bullish entry is counter-trend at this point
-Trust I could make a very long list of bearish indicators, but stopping here.
Observation:
I believe this is true, but certainly open to a challenge on it if anyone sees an error. If you traded KNC when: (1) RSI indicated upward momentum; (2) RSI was at or above 48-52 zone; and (3) sold immediately on sideways/downward RSI, I believe the failure rate of your trades would have been 0% during the previous few months. These trades are reflected in yellow boxes and are numbers 1-10. Trade 10 would be right now.
No advise here. DYOR. Don't trust anyone on the internet. Aaaand, good luck to all.
Bullish Case:
-TK Cross on the 12 hour
-Lagging indicator above price on 12 hr
-Bullish Divergence (RSI/Price)
-RSI approaching breach of midpoint
-At major resistance turned support level (9 touches on the 12 hr in March)
Bearish case:
-Price below cloud
-Lagging below cloud
-Cloud itself is bearish
-Overall market trend is bearish - Any bullish entry is counter-trend at this point
-Trust I could make a very long list of bearish indicators, but stopping here.
Observation:
I believe this is true, but certainly open to a challenge on it if anyone sees an error. If you traded KNC when: (1) RSI indicated upward momentum; (2) RSI was at or above 48-52 zone; and (3) sold immediately on sideways/downward RSI, I believe the failure rate of your trades would have been 0% during the previous few months. These trades are reflected in yellow boxes and are numbers 1-10. Trade 10 would be right now.
No advise here. DYOR. Don't trust anyone on the internet. Aaaand, good luck to all.
Trade fermée: cible de profit atteinte:
Averaged down just a little on this one. Good gains. Would have been better if I delayed the call by 2-3 days. Currently looking for support to substantial a solid reentry into KNC. I feel there's more upside - only question is the extent of the downside before that happens.