XTZ - The bulls are strong, but keep your eyes open!
As a request, I’ll analyze Tezos today. It did an impressive bullish move, and now is near a resistance zone. It is pivoting continually, and the bulls doesn’t seem to be weakening at all.
At the hourly chart it did a H&S pattern, which would give a very nice trade, as you can check here:
If I was in the trade, I would be very aware of the “resistance zone” and get out if the trend change. It could be a bear pivot, a bearish chart pattern or even the loss of a previous support, as indicated by the red lines in the daily and hourly charts. Suit yourself here and do whatever gives you more psychological comfort.
Since I’m out, I must wait for a pullback, and the “resistance zone” is the ideal place for that to happen.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
At the hourly chart it did a H&S pattern, which would give a very nice trade, as you can check here:
If I was in the trade, I would be very aware of the “resistance zone” and get out if the trend change. It could be a bear pivot, a bearish chart pattern or even the loss of a previous support, as indicated by the red lines in the daily and hourly charts. Suit yourself here and do whatever gives you more psychological comfort.
Since I’m out, I must wait for a pullback, and the “resistance zone” is the ideal place for that to happen.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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