All Aboard The Steem Gravy Train!

in #steem8 years ago

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Daily

Earlier this month #STEEM had a crazy run from $1.80 up to $4.50. Looking at our trend timeframe we can see #STEEM is respecting our bullish parallel channel. Major resistance was hit @ $4.53. Could be seeing a drop towards $3.60 However price is currently testing our support @ $4.00. Price has remain in a tight range ($4.10 - $4.53)Stochastic RSI showing momentum is bearish. A daily close above $4.50 activates our trade.

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4Hour

Shifting over to our pattern time frame we have a better view of our channel structure, as well a price currently testing our 4hour uptrend. Potential hold here, if not expect price to drop towards $3.60. A break and close above $4.25 activates our trade.

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Hourly

Finally look at our trigger timeframe we see price has found support. Stochastic RSI showing momentum is heading towards the upside. Price is currently at the bottom of consolidation zone (great time to buy). An hourly close above $4.10 activates our trade.

Conclusion

  • Buy: After break and close above $4.10 on the 4hour
  • Sell: WHY?! DID You Not See Our First Run?!

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Disclaimer: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based off speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing.

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