This one looks similar to my DogeCoin post a few days ago (see link to related ideas below):
Inverse H&S pattern - looks to be playing out
Clear target at area of confluence
Similar pattern as many other altcoins ...tackling a major MA
So, here's the way I'd play this (also, similar to the recent dogecoin post):
#1 - Zoom in to the 4 hr chart. #2 - Now, pending your risk tolerance here's how I would play this: ------ Balls of Steel Risk Tolerance - wait for confirmation above the 50 day MA. Once I see a candle close above the 50 day, that's my sign. I enter. ------ "Meh" Risk Tolerance - wait for confirmation above the neckline at $125. Once I see a candle close above that neckline, I'm golden. ------ "I'm so scared" Risk Tolerance - for you chickens that wouldn't cross a sidewalk crack without looking both ways - wait for both closing candle above $125 and another candle to open and close above $125 on the 4 hr, then enter if you dare.
Targets:
You first target shall be $152. If you still have your grips on that diamond, then go $170.
Best to you all! Beer money appreciated.
-Stew
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Looks like we're moving up. Neckline of the H&S is next.
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Signal Confirmation: 4hr candles have confirmed a break of our neckline. Move up now imminent:
Сделка закрыта: достигнута тейк-профит цена
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Closing. Target #1 reached. The rest is beer money! Congrats traders!