Went up 180% in 5D - What comes next after the consolidation?
Updated
This idea is written from a purely technical perspective and does not consider news and reports in the market about CSE:UPCO.
In the last 3 trading days we have seen a massive increase in volume in Canada and Germany. Currently, the price is consolidating in a symmetrical triangle at its reached level in the Fibonacci retracement zone. Looking at the volume of the price levels, there is a Point of Control Line at .165 CAD, which can be seen as a new support line.
Short time UTL + POC Line + Symmetrical Triangle within the Fibo Retracement Zone result in an interesting constellation that can be seen by the market as a new entry point.
It remains exciting. Stay tuned!
BC= Retracement
CD= Push
D = Next expected target
In this sense - good luck to all of you!
mophi
And please remember. Act according to your own plan. These are ideas to the best of my knowledge and belief. Nevertheless think twice and then act on your own responsibility. The ideas are a purely personal interpretation. They are not guarantees, investment recommendations or an invitation to act on them.
In the last 3 trading days we have seen a massive increase in volume in Canada and Germany. Currently, the price is consolidating in a symmetrical triangle at its reached level in the Fibonacci retracement zone. Looking at the volume of the price levels, there is a Point of Control Line at .165 CAD, which can be seen as a new support line.
Short time UTL + POC Line + Symmetrical Triangle within the Fibo Retracement Zone result in an interesting constellation that can be seen by the market as a new entry point.
It remains exciting. Stay tuned!
BC= Retracement
CD= Push
D = Next expected target
In this sense - good luck to all of you!
mophi
And please remember. Act according to your own plan. These are ideas to the best of my knowledge and belief. Nevertheless think twice and then act on your own responsibility. The ideas are a purely personal interpretation. They are not guarantees, investment recommendations or an invitation to act on them.
Note
The entry point described above, has not been confirmed. The triangle was left downward and the price sank for the time being. I think that it was due to the well-known games with such shares, in which it is tried to push the price artificially down to buy the share again cheap. This can be seen more often on the CSE. I have therefore extended my setup and created a momentum indicator that looks at the volume. In the above idea, this would have invalidated the hypothetical entry point. (blue crosses orange from above or is close to it). Overall, the trading idea is intact, the target has not shifted either, as we are still in the red retracement zone.
Note
The consolidation is nearing its end.Trade closed: target reached
Approx. 75 % gain in 13 days! Boom Shakalaka! :-)
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