QNT / TetherUSShort
QNT lost trend short to 80-87 range H&S on weekly
Updated
Not financial advice
Trade plan moving forward
Short to 78-87 level
We have a clear head and shoulders setup on QNT and I highlighted the trendline from the recent low of 40.00
We are currently trading under that trendline. And applying fib retracement from top to local bottom we have a .786 fib target of around 80.00.
This also lines up with the bottom of the shoulders for head and shoulders.
Saying all that holding the 78-87 level will be key long term if that level is lost my next targets will be between 26-33.00
The RSI is indecision area and shows a substantial correction in store.
Remember
#PIK
Patience is Key
#TLAW
Think Like A Whale
Trade plan moving forward
Short to 78-87 level
We have a clear head and shoulders setup on QNT and I highlighted the trendline from the recent low of 40.00
We are currently trading under that trendline. And applying fib retracement from top to local bottom we have a .786 fib target of around 80.00.
This also lines up with the bottom of the shoulders for head and shoulders.
Saying all that holding the 78-87 level will be key long term if that level is lost my next targets will be between 26-33.00
The RSI is indecision area and shows a substantial correction in store.
Remember
#PIK
Patience is Key
#TLAW
Think Like A Whale
Trade closed: target reached
Target has reached but I do believe we are doing a 5 wave correction from the top and if we lose the 80.00 next area of interest is 40 and under. Potential wyckoff. Was very patient waiting on these prices and I have an updated chart as well showing how we lost certain support levels as we move lower
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