RDD Long - Rounded Bottom Correction Underway

RDD has formed a rounded bottom and has moved through the .5 and .382 Fib retracement levels.

It is currently moving toward the .236 level at 159 and could retest the 197 level.

For target trades check out this related idea

أغلقت الصفقة: تم الوصول للهدف:

Breached R1 @ 159. Could have more profits here but certainly buying into a wall.

تعليق:

Will probably see a pull back here. Looks like a massive cup and handle could be forming with give depth that would give a target of 269 or higher. Keeping an eye on it.

تعليق:

Pulled back to 155 and then broke out of an ascending wage. It will like see a few more pushes up to the 178 resistance or a few stats below it.

تعليق:

As predicted, it tested 175 twice and there's the pull back.

تعليق:

Will want to wait to see a pattern form before getting back in.

تم فتح الصفقة:

Looks like downtrend was just broke. This could try to test 175 and form a massive cup and handle (bullish continuation).

تعليق:

Formed an ascending triangle. We could see a break out here but trailing with a stop loss just in case.

تعليق:

Just moved back to 170. Looks like we had a double bottom at 153.

أغلقت الصفقة: تم الوصول لوقف الخسارة:

Stop loss hit at 170. This could continue but not seeing the volume.

تم فتح الصفقة:

Looks like we have support here at 167. Hoping for a bounce.

أغلقت الصفقة: تم الوصول للهدف:

Indicators have turned negative, not sure if this one is going to hold. Getting out with a small profit.

تعليق:

Got out just in time. Let's look for re-entry.

تعليق:

161 looks tempting. could be a bull trap.

تعليق:

As suspected bull trap. Let's wait for a pattern to form.

تعليق:

Potential double bottom at 59. Waiting for something definitive.

تعليق:

Flagging here. Expecting some consolidation and the a move either way.

تعليق:

Broke to the down side and through the support of our previous double bottom.

تم فتح الصفقة:

Formed an ascending triangle which is bullish.

تعليق:

Now retesting the horizontal upper resistance at 163, Looking for a breakout to 173.

تعليق:

Indicator broke down. Looks like it might trade sideways.

تعليق:

Taking profit at 60, complete break down of the technicals

أغلقت الصفقة: تم الوصول للهدف:

Just in time. Looking for re-entry at a lower price. Buy volume is missing and it fell out of its triangle.

تعليق:

Going to wait for a correction here. Litecoin is forming a falling wedge vs the dollar going to take advantage of that.

تعليق:

It appears we have performed a rounded bottom correction at then end of our cup and are now back at 175.

تعليق:

Price is pulling back after testing 175. Looks like a good time to get in for a quick profit and will be seeing how low this goes before doing so.

تعليق:

Missed the pullback to 168. Slowly chipping away at the sell wall but its a high stakes gamble to get in.

تم فتح الصفقة:

Limit Buy trigger on sell off to 175.

تم إغلاق الصفقة يدويًا:

Indicators broke, selling at 178 and rebuying at a lower price

تم فتح الصفقة:

Re-entered at 174

تم إغلاق الصفقة يدويًا:

Order book is thin, Taking profit at 181 and will watch indicators for re-entry

تم فتح الصفقة:

Re-entered at 178

تعليق:

Buy side of the order book has thickened up. Hopefully, well get volume to pump this price higher.

تعليق:

Volume low and buy side order book disappears with upper resistance at 181. Will sell 181 and buy the dips to 178

تعليق:

Okay, that worked once. Order books thickened on both sides, so holding for now.

تعليق:

Inside of a diamond now with an ascending triangle forming. This should break out to the upper resistance line. Watching the volume and indicators to see if there is another opportunity to sell the 181. Must be careful because the ascending triangle is bullish and if we break through the resistance we want to be holding.

تعليق:

There's our move upward. Still getting hit at the upper resistance.

تعليق:

Indicators look like we might break the resistance. Too early to tell.

تعليق:

Broke out upward, watching indicators for sell point.

تم إغلاق الصفقة يدويًا:

Taking profit at 183.

تعليق:

A rising wedge has formed, which is bearish, and this could continue upward to 189. However, the indicators and the lack of volume compared to the order book influenced my decision to take profits while they were still on the table.

تعليق:

Another thing to consider is there is also potential to break upward out of the rising edge, to the previous high and form a rounded bottom.

تعليق:

Rounded bottom scenario may be in play.

تم فتح الصفقة:

Ascending triangle formed, re-entered following correction at 175

تعليق:

A breakout up to 180

تم إغلاق الصفقة يدويًا:

Probably a little early but taking profit at 184 again. Indicators do not confirm a sell but would rather be safe than sorry.

تعليق:

Indicators still solid but it looks like we'll get a little pullback here, looking for re-entry.

أغلقت الصفقة: تم الوصول للهدف:

Short term indicators turned negative and price has pulled back to 182.

تعليق:

Down to 179.

تم فتح الصفقة:

Re-entering at 179

تعليق:

May have been to early to re-enter. Better to wait for a pattern or technical indicators but decision was made off order book.

تعليق:

Short term indicators went green as suggested by the order book. Unless volume picks up, will take profits at 183 again but since no pattern has emerged yet so another rounded bottom may be in play. Following the indicators and order book at this point for direction.

تم إغلاق الصفقة يدويًا:

Took 81, Indicators and order book turned.

تعليق:

Bull vs Bear in order book but indicators show bull isn't buying. Looking for an opportunity for a lower price. If buying picks up or order book changes will re-enter at 179.

تعليق:

No support at 178, dropped to 175 which is tempting but it looks like a head and shoulders has formed which means the price bound to drop.

تعليق:

Appears we have bounced of the neckline but too soon to tell if its safe to get back in. If we break the neckline it would indicate at 20 point drop.

تعليق:

Headed back toward the neckline again.

تعليق:

Neckline hasn't broke. However, given that BTC is down $1,000+ one would expect this coin to have risen in price against BTC with the drop but it hasn't. It is possible we'll see a sell off here if BTC starts going back up. It is also possible this will pump to ATH in the mean time.

تعليق:

We have formed a triangle. This could trade inside of for the next hour and a half before we see a move one way or the other. In the mean time, BTC is ticking up against the dollar.

تعليق:

Breakout upward but indicators aren't confirming an uptrend.

تم فتح الصفقة:

Short term indicators ticking upward. Re-entering RDD at 177 but will have my finger on the trigger in case it goes south.

تعليق:

Have a little bit of a sell wall to get through at 79 and 80 but it does looking at a run in to the mid to upper 80s.

تعليق:

79 wall gone, chipping away at 80 now.

تعليق:

Buying died, testing to see if 79 gets dumped on.

تم إغلاق الصفقة يدويًا:

And it did, back to square one, taking small profit at 179 not read to buy through it yet.

تعليق:

Sell wall at 80 is getting bigger. At some point the bull's will buy through as long as the bears don't start dumping first. For now bears seam content with low volume selling against 177 and 178.

If we weren't trading near all-time highs this would be probably be a buy but given how high the price has risen the odds of a sell-off are high and a healthy correction is in store.

تعليق:

Just to put it in context, here's the hourly chart. Wouldn't be surprised if a cup and handle forms. Given the 130 point depth of the cup an normal 10-20% handle would form at 13-26 points off the high on relatively low volume, which is where we are now.

تعليق:

We have broken out of our trend channel and correction is underway. If it's falling like a knife don't catch it. Wait until we find a bottom, most likely a falling wedge or a double bottom to get back in.

تم فتح الصفقة:

Looks like we found a bottom and are forming an uptrend. Re-entering at 172

تعليق:

The 175 resistance level needed to be broke before it will be come support again. Took longer than expected but was testing to see if the bears would start dumping again.

Indicators still trending upward:

تم إغلاق الصفقة يدويًا:

Indicators broke, stop loss triggered.

تعليق:

May need to look for a double bottom. Buying unexplained stopped after breaking through the 175 resistance up to 177

تعليق:

Quite possibly a bear trap to weed out any weak holders now so they don't sell later on.

تعليق:

Looked like we would we had two strong bullish signals for a breakout. 1) an upward movement from a falling wedge and two a cup and handle reversal.

However, technical indicators and volume don't support a breakout at this point and the there was a sell-off at the handle. This is likely to move back down the .618 golden ration Fibonacci retracement level which will be a good place for reentry.

تعليق:

Looks like another failed break out. First the failed cup and handle breakout. Now a failed reverse head and shoulders breakout. Taking profits from our latest swing from 145-173.

We are likely to see another trip to below 150.

تعليق:

Note, if we were to see an upward breakout here it would forecast a move above 200.

تعليق:

Mixed signals from the indicators. This should have sold off. We are at a ma cross over which may act as resistance. This could become bullish fast or sell off.

تعليق:

Sold off at the ma. But the bulls look like they might try to support this at 166 but a 156 is likely and we may see another dip below 150 here.

تعليق:

Looks we are forming a falling wedge with support in the lows 60s. MA now acting as support and short term indicators are positive. More support than expected from the bulls.

تعليق:

Broke out of the falling wedge upward, short term bullish. However a rising wedge has now formed, so may be a day trade with a quick profit up to the mid to high 170s but after that it will likely fall off again.

تعليق:

Order books is thick for a day trade here. Getting through the low 70s would be a task. Looking for further pull back here.

تعليق:

Should see which way this is heading soon.

تعليق:

Still trading sideways around 167 which appears to break out of the rising wedge. Now looking for a good buy point for the expect upward breakout of the falling wedge.

تعليق:

The expected down tick.

تم فتح الصفقة:

Entered at 162. Price could fall one or two more points as I expect the falling wedge to hold.

أغلقت الصفقة: تم الوصول لوقف الخسارة:

Didn't see the expected bounce off 162.

تعليق:

Bounced off 155 where we've seen support before but this could be a dead cat bounce.

تعليق:

Bear signs all over the chart. Surprised price is holding up, but that's probably due to BTC being down.

Inverse head & shoulders failed to break out upward and then became a head & shoulders which failed to fall the expect 30.

That became a rising wedge which has since fallen into a smaller second head and shoulders which is combines with the previous head and shoulders to make an inverse cup and handle.

Target drop should be to the 120-130 area.

تعليق:

Amazing support from the bulls or a dead cat bounce?

تم فتح الصفقة:

We may have just seen a double bottom here. I am picking up while cheap and will trail with a stop loss. This sell off is normal behavior as part of a parabolic continuation pattern. However, we don't want to lose our shirts on this.

www.tradingview.com/chart/9lTDQKPF/

تعليق:

Notice we are sill above our long term support as well as the fib support level of 129 which we may test. Stopping loss at 125.

تم إغلاق الصفقة يدويًا:

Taking profit here. In a down trend here and if the price slips don't want to be holding the bag waiting for it to come back up. Will by buy with a confirmation of trend reversal but this could be all the gas this has for now.

تم فتح الصفقة:

Trendline broke, re-entered at 150

تم إغلاق الصفقة يدويًا:

Looking like a failed breakout. Inverted head in shoulders inside a cup and handle pattern. Both forecast at 28 point breakout. Instead it appears we pulled back after moving only 10 points. Might continue to drop but that's what stop losses are for.

تعليق:

Looks like we have broken upward out of the downtrend and the symmetrical triangle. Breaks at the end of the triangle aren't reassuring and it looks there will be further consolidation before we see price movement.

تعليق:

Following yesterday's corrections, RDD has rebounded. The technical are trending upward and we are likely to see continued upward movement as long as BTC stays stable.

تم فتح الصفقة:

5% breakout from entry, following with a tight stop loss to ensure profits if the trend reverses.

تعليق:

RDD is coming out of an inverted head and shoulders, similar to the last the last run to 200. Will history repeat?

تعليق:

Also looking for a breakout of the long term down trend since testing ATH.

تم إغلاق الصفقة يدويًا:

Bitcoin has started moving upward and there doesn't seem to be momentum to break the downtrend line so scalping a 130 here and putting in a lower buy limit order to catch a small pullback.

تم فتح الصفقة:

126 was a buy based on the order book. If you are trading this, keep a tight stop loss and keep and eye on the order book. Order book looks thin beyond if the 23.7648 btc buywall breaks at 125.

تعليق:

RDD has broke the long term down trendline with a little pullback from BTC.

أغلقت الصفقة: تم الوصول للهدف:

Stop hit for a small profit. Seeing red in many cryptos. Another marketwide sell-off may have started. Look to get back into your alts for a discount again.

تعليق:

RDD Breakout:

أغلقت الصفقة: تم الوصول لوقف الخسارة:

RDD Stop triggered to lock in profits. Looks like most alts are selling off yet again. RDD holding up better than most but not taking any risks. Will watch for re-entry.