Hey guys!
At this very moment, we are in the middle of almost everything so you don't want to get caught on the wrong side of the trade. Better be safe than sorry. Having said that, here's my idea about what we are looking at right now.
1) There's a channel marked by green lines as shown in the chart. If you can see this, you'll notice whenever price touches the upper line it gets rejected and whenever it touches the lower band it bounces back inside the range. We can buy when price hits there and sell whenever it touches the upper resistance channel range. A deal breaker would be either a breakdown of the channel or breakout of the channel.
2) TARGETS if price keeps respecting the channel pattern, would be at the top resistance line to take profits as a buyer and viceversa as a buyer taking entry trigger a candlestick pattern on the lower band of the channel.
This idea is to spot for the long term. This asset is still in balanced mode, there hasn't been a breakout of the range yet. However, it's worth to note that there's a channel pattern playing out, right now.
Hope you find it useful and be able to take advantage of this idea.
Kina Tip of the Day: Take profits partially even when they don't seem much because in the long run they will grow in a balanced way with the rest of the portfolio.
Keep it shiny ⭐
Kina, The Girly Trader
At this very moment, we are in the middle of almost everything so you don't want to get caught on the wrong side of the trade. Better be safe than sorry. Having said that, here's my idea about what we are looking at right now.
1) There's a channel marked by green lines as shown in the chart. If you can see this, you'll notice whenever price touches the upper line it gets rejected and whenever it touches the lower band it bounces back inside the range. We can buy when price hits there and sell whenever it touches the upper resistance channel range. A deal breaker would be either a breakdown of the channel or breakout of the channel.
2) TARGETS if price keeps respecting the channel pattern, would be at the top resistance line to take profits as a buyer and viceversa as a buyer taking entry trigger a candlestick pattern on the lower band of the channel.
This idea is to spot for the long term. This asset is still in balanced mode, there hasn't been a breakout of the range yet. However, it's worth to note that there's a channel pattern playing out, right now.
Hope you find it useful and be able to take advantage of this idea.
Kina Tip of the Day: Take profits partially even when they don't seem much because in the long run they will grow in a balanced way with the rest of the portfolio.
Keep it shiny ⭐
Kina, The Girly Trader
Comment:
Oh boy, the re-test to the support trendline never happened. Price continued upwards but found some resistance against the ichimoku cloud so for now it's headed to the upper band of the channel where it will get most likely rejected.