BNX 23.11.22 (4h)
Updated
It dropped sharply from the $161 level I mentioned in my previous review and came to $135. He gets a reaction from there and tries to enter the channel again. 4-hour closes above turquoise should be carefully examined with volume candles.
We have 2 scenarios ahead of us. In such a case, the scenario with the red arrow may be valid in such a case that it cannot gain enough volume to hold in the channel and is pulled back to the first support point. If the volume increases and the 4-hour closes are solid above the turquoise line, the green-colored scenario could be realized.
I did not close the shorts I opened, I want to put a stop to the profit and see where it will go. I will close part of the position every time it hits the green box. It should not be forgotten that BNX has an extremely high price compared to the market.
Also, closures above the white line can take us to the second short point, so be careful.
What I write here serves as a note to myself. Does not include investment advice.
We have 2 scenarios ahead of us. In such a case, the scenario with the red arrow may be valid in such a case that it cannot gain enough volume to hold in the channel and is pulled back to the first support point. If the volume increases and the 4-hour closes are solid above the turquoise line, the green-colored scenario could be realized.
I did not close the shorts I opened, I want to put a stop to the profit and see where it will go. I will close part of the position every time it hits the green box. It should not be forgotten that BNX has an extremely high price compared to the market.
Also, closures above the white line can take us to the second short point, so be careful.
What I write here serves as a note to myself. Does not include investment advice.
Note
I said to wait for the candle close and as I mentioned the turquoise stayed above the line. It came to the first short zone with the volume coming immediately, I think to wait for the second short zone against a possible break. Pay attention to volume and candle closings.Trade closed: target reached
EasyNote
It was a nice profit for those who entered short from the red area.Note
Turquoise downtrend tested. Beware of 4-hour closes, volume may increase.
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