MGOUSD: Great Short oppertunity
Updated
Love this chart.
This coin clearly ran out of steem, you can seen it slow down in the formation of an ascending wedge and now it will dump to its last support. Probably one of the best bear div patterns you want to see. Use macd for additional confirmation on higher timeframes if you wish. but it seems like a sure bet despite the non-idea risk reward.
This coin clearly ran out of steem, you can seen it slow down in the formation of an ascending wedge and now it will dump to its last support. Probably one of the best bear div patterns you want to see. Use macd for additional confirmation on higher timeframes if you wish. but it seems like a sure bet despite the non-idea risk reward.
Comment
Important note: Exit the trade if the price goes sideways for too long.Trade active
small pump on the 15 minute timeframe, appears to be trying to retest the breakdown point at the wedge. If it fails to break up, that will give us a hidden bear div on the 15 minute chart, which is a great sign for continuation downwards.Trade closed: stop reached
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