Bull Flat Above Previous High Breakout - ANS 20/6
Title: Bull Flag Above Previous High Breakout
Strategy Description: Often it can be risky to buy breakouts, especially when there is no clean consolidation below the level. As such I usually avoid buying breakouts; as I tend to get too much fomo, and therefore struggle to maintain discipline on executing on the cleaner ones vs the not so clean ones.
This setup offers an excellent way to get in on a coin breaking out, that is showing strength and could potentially go parabolic.
To extend on this. My favourite setup is when a strong coin provides an amazing sized washout to get in. If the coin is holding trend can use that as a good risk-reward entry for the predominant trend, or can scalp out of it for 10-20%. When the coin doesn't offer the washout after a strong move, it's a sign that there's more strength to come.
Even better is that a coin like this will often have great volume (so can size in), and there is a possibility that already have a position on from lower so can use this as a way to add.
This occurs on ANS right after the 6/20 date marker. The low of the flag never breaches previous high, and it consolidates for roughly 2-3 hours. Note that the length of consolidation is important. It has to be more than 1 hour.
Want to cover risk into first push; but do not underestimate how far this type of setup can go. It is a setup that demonstrates strength, so expect more strength.
Also note volume. Big volume into new high, shallow volume on shallow pullback.
Strategy Description: Often it can be risky to buy breakouts, especially when there is no clean consolidation below the level. As such I usually avoid buying breakouts; as I tend to get too much fomo, and therefore struggle to maintain discipline on executing on the cleaner ones vs the not so clean ones.
This setup offers an excellent way to get in on a coin breaking out, that is showing strength and could potentially go parabolic.
To extend on this. My favourite setup is when a strong coin provides an amazing sized washout to get in. If the coin is holding trend can use that as a good risk-reward entry for the predominant trend, or can scalp out of it for 10-20%. When the coin doesn't offer the washout after a strong move, it's a sign that there's more strength to come.
Even better is that a coin like this will often have great volume (so can size in), and there is a possibility that already have a position on from lower so can use this as a way to add.
This occurs on ANS right after the 6/20 date marker. The low of the flag never breaches previous high, and it consolidates for roughly 2-3 hours. Note that the length of consolidation is important. It has to be more than 1 hour.
Want to cover risk into first push; but do not underestimate how far this type of setup can go. It is a setup that demonstrates strength, so expect more strength.
Also note volume. Big volume into new high, shallow volume on shallow pullback.
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