Long
VEN bulls! - Predicting VEN's next price moves incl. tips!
Updated
Combined Pitchfork - Fibonnacci retracement analysis clearly showing us how VEN-pricing moves, e.g. how it reached quite the high in the last week and how it bounced back to specific resistance and support levels as laid out graphically.
I highlighted some interesting stuff in the graph, and yes it looks a little bit like a colour book ;-) BUT: it can tell us a LOT on both historic ànd future price movement.
The MACD shows an upcoming bullish cross, which historically also shows a clear buy zone. We just need to sit back, have a little patience, get prepared to pull the buy trigger soon but just not yet - as I do see some more downward (or horizontal) potential in the near term. And then, we can ride the next wave higher. Although feel free to already open a position.
FYI - CCI and RSI are relatively neutral for the moment.
--> Tip: see the Pitchfork lines acting as critical resistance and support, with the Fibonnacci support/resistance lines coming in to help when necessary :-D (see blue text boxes and arrows in the graph)
Note that this is by no means formal investment advice :-)
I highlighted some interesting stuff in the graph, and yes it looks a little bit like a colour book ;-) BUT: it can tell us a LOT on both historic ànd future price movement.
The MACD shows an upcoming bullish cross, which historically also shows a clear buy zone. We just need to sit back, have a little patience, get prepared to pull the buy trigger soon but just not yet - as I do see some more downward (or horizontal) potential in the near term. And then, we can ride the next wave higher. Although feel free to already open a position.
FYI - CCI and RSI are relatively neutral for the moment.
--> Tip: see the Pitchfork lines acting as critical resistance and support, with the Fibonnacci support/resistance lines coming in to help when necessary :-D (see blue text boxes and arrows in the graph)
Note that this is by no means formal investment advice :-)
Note
Large overall market sell-off going on --> VEN trading lower and is close to support as can be seen in the downward black arrow I drew in my analysis. --> As you can see, this downward movement was to be expected (it was drawn on the graph before it happened), although it occurs a little faster then one would generally expect.
--> In any case, VEN is still positioning itself to move higher from there on - with both the pitchfork and Fibonnacci line as support - so this could definitely provide a buying opportunity before the next move upward.
Note
Look how nicely VEN is moving between our lines! Upcoming MADC crossNote
VEN doing its thing exactly as we thought it would in the short term! (simply click "play" in the graph :-)Attention point: death cross in daily MACD - take this in close consideration.
Note
Just have a look at how nicely our prediction is unfolding. How it bounces up and down in our well-defined channel, and how it tested at 16 o'clock today (18/01) the resistance line of the channel (the darker green line of the light green channel, which is the boundary with the upper blue highlighted channel).I'll be posting a new analysis somewhere soon.
Note
Update can be found here: 
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