$HUYA - an odd chart that is marked by two polarities
This chart is an odd one as it's entirely defined by two ranges - a zone where price is constantly sold off, a zone where it's guaranteed to buy back, and a few levels in the middle that I wouldn't necessarily trust as either support or resistance, which seem to merely be reaction points.
Two conditions I might get into this:
- A convincing exit from the resistance zone with volume
- A re-entry into the support zone
Until one of those things were to happen, it's a weird one and not sure how you'd trade it, other than going beyond what I am doing here, maybe doing more PA.
I keep things simple. I am bullish bias on e-sports so would like to monitor this one for a long-term hold.
Two conditions I might get into this:
- A convincing exit from the resistance zone with volume
- A re-entry into the support zone
Until one of those things were to happen, it's a weird one and not sure how you'd trade it, other than going beyond what I am doing here, maybe doing more PA.
I keep things simple. I am bullish bias on e-sports so would like to monitor this one for a long-term hold.
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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.