Quirinus' trading alpha

Quirinus' Crypto Alpha

--Volume 1

GM Baos.

We're ending the week with a BANG. Not because the Merge caused ETH to tank, but because our very own Quirinus is sharing some of his trading tricks 😉

I've been following #quirinus-crypto-alpha in the Fortune Friends Club Discord, and I must say I'm learning a bunch 😎

Here are some of Qui's predictions before markets open tomorrow...

Let's start with the daily timeframe. Here, we're seeing a strong bearish trendline that has been rejected three times.

CHART A

There's also a bullish trendline that is supporting the current price action right now.

My move? I'll be taking a short under two scenarios.

Scenario 1 This is when we break below the trendline and the current zone level as in Chart A. Then the candle closes below 1314, I expect a rebound from the 1246-1280 zone back to where I'd take my short between 1427 - 1356.

CHART B

This means as soon as it touches area of 1246 - 1280, we can look to long it back to the 1356-1427 zone before shorting it down further.

Scenario 2 – Chart Below

Otherwise, we can look at a second alternative in Chart C. This is to long the current market due to the support of the trendline and zone. We can then look to short it when it approaches the upper zone; this is the 0.5 - 0.618 Fibonacci retracement level which gives us a better short entry with a more realistic TP (take profit) and SL (stop loss).

CHART C

SL can be around 1881 with TP around 1192 to 1025.

Disclaimer – All information & advice is general only and not prepared for your particular circumstances & needs. This is not official financial advice, don't forget to do your own research!

Did ya learn something new? If these terms are all new to you, don't worry. We're here to bring some trading education to the NFT space.

See you in 24 hours, Baos 💙 Hope you have a lovely end to your week.

–Lili