$KAS broke major support and could face a significant drop!
Updated
KASUSD has been experiencing steady declines after failing to sustain higher levels over the past few months. It recently broke a critical major support trendline, signaling the potential for further downside.This breakdown occurred after several attempts to push higher were rejected, especially around the $0.20 range, which had acted as strong resistance in the past.
The break below the trendline, which has held strong for months, signals that selling pressure is intensifying.
We're now closely watching how it reacts within the Supply Zone around $0.1251 - $0.1291. A rejection from here could accelerate the move downward.
Key Levels to Watch:
Short Entry Idea 1: Rejection from $0.1291
Short Entry Idea 2: Rejection from 4H SIBI at $0.1257
TP1: $0.1183
TP2: $0.1079
TP3: $0.0915
Expect further downside if
KAS fails to reclaim these levels soon, as we could see it test Major Demand Zones below.------------
Disclaimer:
This analysis is for educational and informational purposes only. It is not financial advice, and you should not take it as such. Always conduct your own research and due diligence before making any trading decisions. Markets are highly volatile, and following any chart blindly can lead to significant losses. Trade responsibly and use risk management strategies.
Trade active
Congrats to anyone who followed this shorting trade idea
My TP1 and TP2 got hit at the same day on 24th of October
Right now I'm still in the position waiting for TP3 to be reached.
Don't forget to move your SL to breakeven or profit as well
Cheers
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