- January 2, 2021
- Posted by: virtualxstore
- Category: trading
I cannot take all the credit for this one, Scott over at TCL has been scouting this one for some time now and I thought I’d take a look at its chart to see if I can’t decipher some swing trade ideas.
I see the retrace from the 2.62 going down as low as $5.35 where some of my moving averages sit on the 4 hour chart at the moment. After that’s complete, we may see some good looking price action upwards.
I could be wrong but I’m looking for a reaction off of the 4.236 ratio around $7.65, just not sure what it would retrace to after this. I may try to look at the BTC side of atom to see what’s going on there as well. I’m still not sure if my fibs are set up right but I see the 1.618 and 2.62 retraces after give me a hint.
Thanks for tuning in 🙂 Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it’s very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!