$NULSBTC - hunting for 200% gain at 1:18 risk/reward
Good day traders and welcome to this idea on NULS
As you can clearly see, NULS is a beast. It’s trading above January high. Not very many pairs are trading above January high… I can only think of EOSBTC and ZRXBTC off the bat. So no doubt, NULS is going places.
Looking at the daily, we see that after testing the March highs, NULS has accelerated quite quickly towards our wave iii target of roughly 83K.
Within this wave iii, we can see that likely, we are done with wave (3) of iii and are working on our wave (4) as our wave (3) have hit an important fib expansion level and now it’s starting to correct:
Looking closer in the 1hr chart, based on our RSI trend, we can assume that we’ll start to see lower price action as the RSI work towards the lower region to reset itself for a push towards the fifth wave. With that said, I expect this 4th wave correction to be an ABC zig zag with the C leg ending somewhere between 50500 and 46500 since we do have support from the high on 4/29. This is also a confluence with the .382 retracement of wave (3), which is a rather standard retracement for third waves:
With that said, we could start buying from 50500 down to 46500 with a stop just below that at 45K since if we do see those prices, we could get back to 40K to test our March highs again.
Entry 50500 or at 10D EMA
Stop 45000
Target 152K, start taking profits from 130K and up
Risk / reward ratio: 1:18
I don’t normally set my buys above the .382 retracement but in this idea, it is a case of FOMO since I know that there is definitely steam behind this push. I also see that the 10D EMA is approaching quickly and it doesn't seem like NULS like the 10D EMA very much. It is staying away from the 10D EMA like the plague. So as long as we're trading above the 10D EMA, we're golden. However, let’s say we miss this trade, fear not since likely we’ll see a corrective wave iv that should come back down to this level to prepare us for the push to the fifth wave to complete (iii) which should end some where between 150K to 160K, a relatively conservative estimate based on our wave (i) and (ii).
Found this idea to be entertaining or absolute garbage? Feel free to let me know with a like or comment. As always, good luck and stay safe!
Kinashi San
*For pure fun and joy, not financial advice. Not a recommendation to buy sell or hold.*
As you can clearly see, NULS is a beast. It’s trading above January high. Not very many pairs are trading above January high… I can only think of EOSBTC and ZRXBTC off the bat. So no doubt, NULS is going places.
Looking at the daily, we see that after testing the March highs, NULS has accelerated quite quickly towards our wave iii target of roughly 83K.
Within this wave iii, we can see that likely, we are done with wave (3) of iii and are working on our wave (4) as our wave (3) have hit an important fib expansion level and now it’s starting to correct:
Looking closer in the 1hr chart, based on our RSI trend, we can assume that we’ll start to see lower price action as the RSI work towards the lower region to reset itself for a push towards the fifth wave. With that said, I expect this 4th wave correction to be an ABC zig zag with the C leg ending somewhere between 50500 and 46500 since we do have support from the high on 4/29. This is also a confluence with the .382 retracement of wave (3), which is a rather standard retracement for third waves:
With that said, we could start buying from 50500 down to 46500 with a stop just below that at 45K since if we do see those prices, we could get back to 40K to test our March highs again.
Entry 50500 or at 10D EMA
Stop 45000
Target 152K, start taking profits from 130K and up
Risk / reward ratio: 1:18
I don’t normally set my buys above the .382 retracement but in this idea, it is a case of FOMO since I know that there is definitely steam behind this push. I also see that the 10D EMA is approaching quickly and it doesn't seem like NULS like the 10D EMA very much. It is staying away from the 10D EMA like the plague. So as long as we're trading above the 10D EMA, we're golden. However, let’s say we miss this trade, fear not since likely we’ll see a corrective wave iv that should come back down to this level to prepare us for the push to the fifth wave to complete (iii) which should end some where between 150K to 160K, a relatively conservative estimate based on our wave (i) and (ii).
Found this idea to be entertaining or absolute garbage? Feel free to let me know with a like or comment. As always, good luck and stay safe!
Kinashi San
*For pure fun and joy, not financial advice. Not a recommendation to buy sell or hold.*
ความคิดเห็น:
Looks like we're currently working on an expanded flat for this WXY combo. Stay tuned!
ความคิดเห็น:
NULS is playing along nicely. Our expanded flat has been formed. Now we're looking for a final push to 46K to complete wave iv before heading back up to make wave v.
ความคิดเห็น:
Everything we need to know about the direction where ADA is going can be seen here in the last 4 daily bars:
1) Tested 200D MA 3 times with success
2) Indecision candle found resistance at 10D EMA
3) Bullish indecision candle with a close that will likely be higher than the previous close, also with a resistance at 10D EMA
IF we break the 10D EMA you can bet your pants that we're going to see a long and strong green bar following these
1) Tested 200D MA 3 times with success
2) Indecision candle found resistance at 10D EMA
3) Bullish indecision candle with a close that will likely be higher than the previous close, also with a resistance at 10D EMA
IF we break the 10D EMA you can bet your pants that we're going to see a long and strong green bar following these
ความคิดเห็น:
LOL sorry I updated the wrong idea!!!!
ความคิดเห็น:
Here is the NULS update:
Currently we're in the 7th day of this correction for the fourth wave. As you can see, wave ii took 27 days and we're barely at the 7th day of wave iv, so likely we're not done with this correction. In EW theory, the 4th wave is typically very drawn out and complicated, so I do expect for this correction to last at least for about 20+ days at the least. We'll likely have some sort of an WXY or WXYZY or ABCDE combo or something of that nature. So with that said, let's take a look at the 4H chart:
As you can see, we are doing some sort of a WXY combo where we're expecting the Y leg to end somewhere between the 44K support and 42K 800H MA. Right now we're being supported at the 400H MA which is fine and dandy but likely we'll see lower price action.
Be patient and stay tuned. If we miss this opportunity, there'll be plenty of others.
Currently we're in the 7th day of this correction for the fourth wave. As you can see, wave ii took 27 days and we're barely at the 7th day of wave iv, so likely we're not done with this correction. In EW theory, the 4th wave is typically very drawn out and complicated, so I do expect for this correction to last at least for about 20+ days at the least. We'll likely have some sort of an WXY or WXYZY or ABCDE combo or something of that nature. So with that said, let's take a look at the 4H chart:
As you can see, we are doing some sort of a WXY combo where we're expecting the Y leg to end somewhere between the 44K support and 42K 800H MA. Right now we're being supported at the 400H MA which is fine and dandy but likely we'll see lower price action.
Be patient and stay tuned. If we miss this opportunity, there'll be plenty of others.
ความคิดเห็น:
Ok ladies and gents, looks like we have ourselves a completed WXY pattern that completed on 5/24 and we are now about to be done with the second wave retrace of the fifth wave push. This is also a confluence with the 200MA on the 4H chart, which should be a relatively strong hold. Between the support created by the resistance on 4/29 and the 200MA, I'm comfortable to make an entry here. We knew NULS would test the 200MA eventually, it was just a matter of time and price point.
ความคิดเห็น:
Alternatively, if we do break this support, we might see 40K at the .618 retrace before resuming the upward momentum
ความคิดเห็น:
What do you know, we ended up at the 50% retrace and 44K support as originally expected
New entries will be 49K, 48K, and 47K. Same targets