Hedera | Reversal Candle Explained (185% Potential Profits)
We have two candles marked on this chart, 5-July and 18-June.
The 5-July candle is a hammer and when it shows up near support it can signal an upcoming reversal.
Notice that this candles wick hit below the 18-June candles low, that is 0.0581.
It hit lower at 0.0550 but the close happened at 0.0617.
So the 18-June low holds as support which can lead to higher prices.
On top of the reversal candle we can notice EMA300 and MA200 starting to trend downwards.
When you see these indicators trending down coming from above, prices tend to shot up in the direction contrary to the moving averages.
We also have the low 12-May followed by a lower low on 18-June, a pattern that is also present in many altcoins that have grown two to three digits in a matter of days.
For traders, this is a very good chart setup.
The risk is very low, around 15%.
The potential rewards very high, over 100%.
If we lose, we lose small.
It is ok, we can take a loss, it is normal in this type of busines.
If we win, we win big.
That's perfect, that's what we like.
Namaste.
The 5-July candle is a hammer and when it shows up near support it can signal an upcoming reversal.
Notice that this candles wick hit below the 18-June candles low, that is 0.0581.
It hit lower at 0.0550 but the close happened at 0.0617.
So the 18-June low holds as support which can lead to higher prices.
On top of the reversal candle we can notice EMA300 and MA200 starting to trend downwards.
When you see these indicators trending down coming from above, prices tend to shot up in the direction contrary to the moving averages.
We also have the low 12-May followed by a lower low on 18-June, a pattern that is also present in many altcoins that have grown two to three digits in a matter of days.
For traders, this is a very good chart setup.
The risk is very low, around 15%.
The potential rewards very high, over 100%.
If we lose, we lose small.
It is ok, we can take a loss, it is normal in this type of busines.
If we win, we win big.
That's perfect, that's what we like.
Namaste.
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