Trade Setup - 2nd Bounce on NAV
EDIT - liking this idea a lot less now that BTC is declining. NAV touched into the green range this morning, but even with the pop, if it occurs on the backdrop of declining BTC, might ruin the trade.
For any viewers who like to trade, I believe the NAV chart has set itself up for a 2nd bounce pop trade. If you look at NAV Coin's past chart behavior, you'll see a similar spike on 9/6/2016 and also 12/07/2016. Both quick fast spikes, produced a secondary spike which did not go quite as high as the first spike. The 9/6 example had a 50% decline from the top from where the rally started. NAV may do this behavior this time as well, at which point I might buy me a small NAV trade and ride the bounce higher.
See the chart below for more details.
Link to chart: https://www.tradingview.com/x/PVgvM3I1/
The concept would be to buy below 25k satoshi, and ride it up to 30k satoshi+. And if you wanted to manage risk with a stop loss, you would probably need to watch NAV on a 5 minute chart to find the actual bottom because with this kind of volatility, it could spike down to 22k satoshi before going to 30k satoshi. In these types of trades, I usually just buy into the selling pressure, and pick my sell target and wait, even if I ride it a ways lower after I buy.
i will keep those signals in mind NAV looking good :)
Ha! I just wrote this: https://steemit.com/nav/@unlockrs/crypto-market-and-nav-analysis
I don't think we see NAV hit 22k sat, but it's difficult to predict the future!
According to the chart the NAV coin is increasing steadily. I think the future of NAV is bright.
Great post very Helpful thank you so much for sharing
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