On February 7th, a limit buy order was placed at 0.73376, which was filled two days later. As soon as the order was completed, the price of $MINA$ rose 55% within the next two days. Despite this increase, I did not sell as the volume profile indicator showed that the next volume spike was expected to occur between 1.33 to 1.45. In response, I increased my target to this range and adjusted my stop loss to 0.793.
Feb. 07 Analysis:
On Jan. 26th, the daily trendline was tested. A breakout trade was placed with the expectation of a 30-70% upward movement. The target was reached on January 31st but the position was not sold. Currently, it has fallen to about 6% gains. I expect MINA to bounce back from the 200 EMA [0.7450] and then continue to rise to reach a higher descending trendline.
Please do your own research and risk no more than what you can afford. My analysis is based on 14 years of experience trading the markets and is subject to my opinion. You've been warned.
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$MINA$ - Bullish [Extended Strategy]
Today’s Update:
On February 7th, a limit buy order was placed at 0.73376, which was filled two days later. As soon as the order was completed, the price of $MINA$ rose 55% within the next two days. Despite this increase, I did not sell as the volume profile indicator showed that the next volume spike was expected to occur between 1.33 to 1.45. In response, I increased my target to this range and adjusted my stop loss to 0.793.
Feb. 07 Analysis:
On Jan. 26th, the daily trendline was tested. A breakout trade was placed with the expectation of a 30-70% upward movement. The target was reached on January 31st but the position was not sold. Currently, it has fallen to about 6% gains. I expect MINA to bounce back from the 200 EMA [0.7450] and then continue to rise to reach a higher descending trendline.
The Medium-Term Play: 2-3 Months
4.54-to-1 PL Ratio.
Entry: 0.73376; Target: 1.27843; SL: 0.61387.
TA Methodologies:
1. Demand&Supply Theories [Price Momentum]
2. Fibonacci Retracements & Extensions [SR Zones]
3. Trendlines [Breakout]
4. RSI [Movement Strengths]
Please do your own research and risk no more than what you can afford.
My analysis is based on 14 years of experience trading the markets and is subject to my opinion. You've been warned.