https://www.tradingview.com/x/ND1EezwN/
K1 is a fake down,
And then, K3 is a fake up.
It is very difficult to take profit at this case.
If the following candles break up the downtrend channel or stand upon the neck line,
Another bull run may start here and test 108K area.
If the following candles test the neck line to verify the bear trend or even close below the downtrend channel,
The following candles may fall to test 80K-76K area for a second time.
It will be valuable to buy then.
K1 is a fake down,
And then, K3 is a fake up.
It is very difficult to take profit at this case.
If the following candles break up the downtrend channel or stand upon the neck line,
Another bull run may start here and test 108K area.
If the following candles test the neck line to verify the bear trend or even close below the downtrend channel,
The following candles may fall to test 80K-76K area for a second time.
It will be valuable to buy then.
Trade active
K1 and K2 close below the neck line of a potential bear head.
So, it is likely that the following candles K3 will keep falling.
75K is the potential target of the bear head.
I will try to buy it if the following candles fall to test 80K -75K area.
And if the following candles close below the support,
The risk will sharply increase.
Note
K3 is trying to break the support or the uptrend line.
I bought it from 80K,
and will still try to buy it if the following candle fall to test 75-73K area.
If the month candle couldn’t close below the support,
A sharp rebound to test 100K is possible.
Note
K6 started with a bull gap and increasing volume,
But unfortunately, it failed to close the bear gap of K2.
So, the nearest potential resistance at 87K is effective.
I will try to get out of the market if K7 is a weak retest of the 0.5fib line.
And, if the following candles return back upon the neck line,
It is likely that another bull run will start here and climb up to test 100K area.
If not, it is still possible that the following candles fall to test 80K-73K area.
I will still try to buy it there.
Note
The volume along the recent candles keep decreasing,
So, I cut off all my long positions here.
And, if K3 couldn’t close the bear gap at K0,
Another bull run couldn’t start here.
It is still possible that the following candles fall to test 80K-75K area.
Note
K3 implied a potential risk that K1 was most likely a fake up candle.
If K4 keep verifying it,
Another bear run may start here to test 75K area.
If K4 close upon K3,
The market will keep climbing up to test 90K area.
Note
K3 verified a potential downtrend momentum here,
But it failed to close below K0.
If the following candles is a weak rebound to test 0.5-0.618fib area,
It will be a good place to short it there.
And, it is also a good place to short it immediately here.
But the risk will be relatively higher.
Short-86488/Stop-87800/Target-75K
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.