CHZ will bounce?
Hi all,
I would like to have an update on CHZ.
We can see that CHZ is moving in a rising wedge. At the moment, the prices are at the lower trendline and the EMA 50D supports, after falling from $0.283. The trading volume continues to decline which indicate that the selling pressure has been almost dissipated.
For these reasons, here below is a LONG setup proposal:
I would like to have an update on CHZ.
We can see that CHZ is moving in a rising wedge. At the moment, the prices are at the lower trendline and the EMA 50D supports, after falling from $0.283. The trading volume continues to decline which indicate that the selling pressure has been almost dissipated.
For these reasons, here below is a LONG setup proposal:
- Entry: Around the actual price (or waiting for a bullish 1D candle for a safer trade)
- SL: $0.1975
- Invalidation: 1D candle closing below the support trendline.
Trade closed manually
CHZ became weak and the wedge seems to be broken down. Invalidation in my opinion.
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Related publications
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.