This pair is gathering up inside this triangle just above the 0.618 fib retracement of the major move. Two way to trade this.
Aggressive traders could buy at 5150 area with a tight stop below the wicks of the previous rejection candles. Cover stops to confirm breakout of the triangle to the upside. With a confirmed retest of the previous resistance, you can add to the position and trail your stop up to previous highs at 10296 for a nice 100% gain.
Conservative traders would wait for the breakout and re-test.
Volume is starting to peak over 15M. DMI not quite showing a buy, but the DX could easily flip on the next candle. RSI is looking bullish.
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Aggressive traders could buy at 5150 area with a tight stop below the wicks of the previous rejection candles. Cover stops to confirm breakout of the triangle to the upside. With a confirmed retest of the previous resistance, you can add to the position and trail your stop up to previous highs at 10296 for a nice 100% gain.
Conservative traders would wait for the breakout and re-test.
Volume is starting to peak over 15M. DMI not quite showing a buy, but the DX could easily flip on the next candle. RSI is looking bullish.
Fundamentally, Komodo is an excellent project with much to offer in the near future. If you're unfamiliar, check it out here - cointelegraph.com/pr...entralized-ecosystem
www.komodoplatform.com/en
You could re-enter at the previous low, and go for first profit target up at the 38.2% retracement. That would net you around 20% for target. Stops would go 10% under your entry and below previous and the support zone.
Take a small position if you want. It's been a turbulent day in the markets today.
Protect your capital.