NB: This is my own personal trading strategy!
From the above chart, there are two possible outcomes.
case 1: The price movement will break out of the purple descending triangle in an upward direction.
case 2: The price movement will break out of the purple descending triangle in a downward direction and continue to make lower highs.
If case 1 plays out I will set my buy order just a little bit above the last previous high in the descending triangle just to make sure it's not a false breakout and I will set my stop loss just a little bit below the tip of the triangle.
if case 2 plays out, I will wait for it to get in the buy range. my anticipation is that around $0.00823 will be the bottom, I will patiently wait for it to get close to the bottom as possible before buying. However, anywhere in the buy range would be fine provided $0.00823 is the bottom. I will set my stop loss at around $0.00723 because around that price range was where we took off to the current all-time high. If we fall below $0.00723 the next possible support is around $0.0045.
GOODLUCK!
From the above chart, there are two possible outcomes.
case 1: The price movement will break out of the purple descending triangle in an upward direction.
case 2: The price movement will break out of the purple descending triangle in a downward direction and continue to make lower highs.
If case 1 plays out I will set my buy order just a little bit above the last previous high in the descending triangle just to make sure it's not a false breakout and I will set my stop loss just a little bit below the tip of the triangle.
if case 2 plays out, I will wait for it to get in the buy range. my anticipation is that around $0.00823 will be the bottom, I will patiently wait for it to get close to the bottom as possible before buying. However, anywhere in the buy range would be fine provided $0.00823 is the bottom. I will set my stop loss at around $0.00723 because around that price range was where we took off to the current all-time high. If we fall below $0.00723 the next possible support is around $0.0045.
GOODLUCK!