POWR - trend reversal? Shaping a saucer?
Updated
POWR - perhaps located at the very bottom and there will be a break in the trend - the formation of a saucer shape.
Coin - TA textbook. We see a global downtrend on a coin. Each figure was a continuation of the trend. Bear flag - rectangle (horizontal time channel) - downward wedge - rectangle (horizontal time channel). Now the coin is 1 month in lateral movement. Perhaps the Saucer will be formed. Which can become a trend reversal from downward to upward.
On the downward chart (“saucer figure”)
1) Descent of the price. It is characterized by a gradual slowdown in movement and falling prices;
2) Bottom - the bottom point of prices on the chart. It should be located on a gentle bottom (smooth bottom, without peaks). The center of the figure.
3) Climbing prices. Ideally, the graph is symmetrical to the descent. It is characterized by a gradual acceleration in price growth. When climbing the price, be sure to increase the volume indicators (to confirm the formation of the figure). The time of formation of the climb is usually equal to the time of the descent of the price or slightly more.
Coin - TA textbook. We see a global downtrend on a coin. Each figure was a continuation of the trend. Bear flag - rectangle (horizontal time channel) - downward wedge - rectangle (horizontal time channel). Now the coin is 1 month in lateral movement. Perhaps the Saucer will be formed. Which can become a trend reversal from downward to upward.
On the downward chart (“saucer figure”)
1) Descent of the price. It is characterized by a gradual slowdown in movement and falling prices;
2) Bottom - the bottom point of prices on the chart. It should be located on a gentle bottom (smooth bottom, without peaks). The center of the figure.
3) Climbing prices. Ideally, the graph is symmetrical to the descent. It is characterized by a gradual acceleration in price growth. When climbing the price, be sure to increase the volume indicators (to confirm the formation of the figure). The time of formation of the climb is usually equal to the time of the descent of the price or slightly more.
Note
Note
Note
By the way, the first two targets for the “falling wedge” are taken by the impulse + 100%.If we assume that a “saucer” will be formed, then the purpose of the sale is in the region of 1300-1400, and this is + 150%. I would not wait for a breakthrough and consolidation of resistance, but went out in front of him.
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