https://www.tradingview.com/x/je7Gncbx/
K1 verified a potential resistance,
It is possibly a signal of a larger scale consolidation here.
K3 failed to break up K2 to expand up.
So, it is likely that the following candles will fall to test lower price area of K1.
If that is a fact,
I will try to buy it there.
On the other hand,
If K4 failed to close below K3,
And even break up K3.
The following candles will climb up to test 106K area.
Long-99K/Stop-98K/Target-110K
K1 verified a potential resistance,
It is possibly a signal of a larger scale consolidation here.
K3 failed to break up K2 to expand up.
So, it is likely that the following candles will fall to test lower price area of K1.
If that is a fact,
I will try to buy it there.
On the other hand,
If K4 failed to close below K3,
And even break up K3.
The following candles will climb up to test 106K area.
Long-99K/Stop-98K/Target-110K
Note
From the recent several candles,
The supply pressure around the high price area keeps increasing.
K3 must close at high price area like K1 to verify the strong bullish momentum.
If not,
It is quite possibly that the following candles will fall to test 93-96K area.
If K3 is a doji candle or return back below the consolidation area,
K1 will be verified as a fake up candle and a short-term downtrend will start here.
Note
K3 close upon K1 and K2,
It also verified a valid break up candle of K1.
The resistance had turned to be a potential support.
So, it is likely that the following candles will keep climbing up to test higher price area.
Long-105888/Stop-105088/Target-111K
Note
Supply pressure at K2 sharply increased,
But the price had not reached to the same level.
And it seems that the time target had not reached to the limit too.
It seems that K3 or the following 3-4 candles will finish it.
I will close all my long positions near the resistance if I bought it earlier,
And even try to short it at about 115K area.
I will start to buy SMST from 1USD.
Note
The previous bullish momentum had been terminated by K1.
It seems that a consolidation had started from K1.
And the strong bearish momentum had been terminated by K3 too.
If K4 close upon the resistance,
Another bull run will start here.
If not, the expected consolidation will carry on.
And it is possibly that the support will lost its strength to start another bull run,
And a sharp price correction will finally come up.
Note
K3 close upon K1 and K2,
It is a good signal for the bull market.
K4 is a second test to the support,
It seems that K4 or the following candles will keep climbing up to test the high price area of K0 or even close upon it.
IF there are more signals to verify the potential resistance,
It will be a good place to short it there.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.