The prospects for our BAT v BTC MT ProTrade are not looking great right now despite the fact that it remains active for the time being considering SCMR is printing a bearish pivot bar today on a bearish candle formation while market structure deteriorates once again, all suggesting lower prices still moving forward. The falling shorter-term moving averages, the lackluster volume indications, and the Ichimoku Cloud which is getting close to flipping to bearish all confirm the negative outlook, although favorable momentum oscillators and good r/r off of historical support will keep us in the PT until the bears stop us out.
Short term Members ProTrade - No new ProTrade ideas at this time.
Medium term Members ProTrade - We have activated a small LONG position off of the 0.0000405 level with an adjusted stop around the 0.000040 regional low, an initial target of 0.0000xx and a secondary target of 0.0000xx.
Long term Members ProTrade - We will consider a LONG position on a crash back down to the 0.0000xx - 0.0000xx area with a stop around 0.0000xx and a target of 0.0000xx.
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