Aurora Coin Technical Analysis | Breakout with strong Impulsive Move

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Published: 31 Dec 2017 › Updated: 31 Dec 2017 Aurora Coin Technical Analysis | Breakout with strong Impulsive Move

Aurora Coin Technical Analysis | Breakout with strong Impulsive Move

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In this post I am going to cover technical analysis of Aurora Coin for medium term trade. I am using tradingview charts and price linked to Bittrex exchange. Let' have a look on technical aspects of Aurora Coin.

Possibility on 1 hour Chart

If you look at 1 hour chart, you will see Aurora Coin has mad a big impulsive move and now it is forming a bullish flag. This is very common pattern in crypto currencies, whenever a coin breaks with big impulsive move, it pull backs and wait for some time before making next impulsive move. If we look at RSI, it has gone above 70 level in first impulsive move and has dipped to 50 level now, so we have pull back done and next impulsive move is ready. Let's have a look on Bollinger bands, you will notice the impulsive move took the price to top bands and flag has pulled price back to median line, so we have a possibility of next impulsive move soon.

I will have a buy entry at 0.00014750 with my profit target will be around 0.00019200 or above.
Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.

Have a look on my other Posts

Bitcoin Correction Almost Done - Get Ready for Boom
Averaging Technique in Crypto Trading

If you like my posts and analysis and want me to add analysis on more cryptocurrencies, let me know in comments and I will add analysis

Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose.

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Written by Umair Afzal

Professional Forex Trader and Trainer | Prop Firms Funds Manager | Crypto Trader and Analyst | Food Technologist

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Aurora Coin Technical Analysis | Breakout with strong Impulsive Move