Coins to Watch Next Week [21-05-2018]

I would like to share with the community a few trading setups that I will be closely watching and trading in the crypto-currency market this week. These trade opportunities follows my own style of trading that aims to maximize return on investment with minimum trade risk.

The method of trading is based purely on technical analysis using break-out patterns from an area of tightening with low volume is referred to as a "consolidation zone". An explosive move out of this zone indicates an imbalance between supply and demand. A strong move away from the consolidation zone indicates a greater imbalance and higher probability to reach profit targets.

Each trade has a pre-defined take profit and stop loss price. I do not rely on indicators to make a decision whether to enter into a trade or not and are always secondary.

There are strict rules to the trading method that I follow at all times. Please note that I actively monitor these trades and will adjust my risk appetite as necessary. You can follow updates on my Twitter and TradingView accounts.

Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.

ICXBTC - Buy Opportunity - 239% ROI - 24:1 Risk/Reward

With BTCUSD consolidating over the weekend, I've turned attention to the alt pairs leading into next week. One coin that i've previously traded a number of times is Icon.

As you can see, there have been multiple breakout trade opportunities that have all reach target. I've left these on the chart for you to see. There is still a larger pattern in play that has not reach targets or broken key levels to invalid.

Therefore, we can assume consolidation is now occurring for the next big move UP.

Reasons to consider a BUY position:

• Multiple breakout trade that indicate trend continuation
• Price appears to be basing out near the consolidation zone indicating fewer sellers
• Multiple consolidation zones to offer support (not all are shown)
• Excellent risk to reward ratio on offer
• Follow LIVE @ TradingView: https://goo.gl/gfa1rS

OMGBTC - Buy Opportunity - 190% ROI - 22:1 Risk/Reward

Now that OMGBTC has returned back to the consolidation zone, which was the original point of the first breakout, we can assume there may still be buying interest in this range. Keep an eye on price action as it returns into this zone to see if demand can exceed supply.

Reasons to consider a BUY position:

• Price broke out from consolidation zone and hit target #1 which is a sign of bullish continuation
• Price appears to be basing out near the consolidation zone indicating fewer sellers
• Excellent risk to reward ratio on offer
• Follow LIVE @ TradingView: https://goo.gl/JAUWgB