NKNUSDT trade ideas
NKN Lagging Behind MTL & About To PumpBINANCE:NKNUSDT
BINANCE:MTLUSDT
NKN is following a fairly similar fractal to MTL's retracement that finished & is now moving up, however, NKN is lagging behind MTL by an estimated 3-days. This chart estimates that NKN should begin its next upswing within the next 6 days.
Chart is pretty much explained via text in-chart, comment below if you have any questions.
Anyone holding MTL could possibly ride MTL's wave to the top & sell into NKN to multiply profits?
*NFA*
flash pattern reversal nkn may 24th1. reversal pattern flashed at peak.
2. followed by 50% drop.
3. retrace back to 80% from peak.
4. followed by another to 30% from peak.
5. eventually bottomed at 15% from peak.
currently should follow step 3 now
ps: btc is following this same pattern from 13-17 bull/bear run
steps seem to follow btc minus the continuous head and shoulder patterens
nkn may17th RSI shows we are at a bottom. so with that said we made a higher low and now setting up for a higher high. Gan pitch should give a rough estimate of the movement for the coming days. this only stays valid if we continue to close above are previous low. otherwise wed have a double bottom, which could mean a set up to drop.
Nkn analysisPrice is on a range right now and it's strong so am waiting for a break from the bulls to continue the trend,that is for now we are still expecting a pump to breakout
The zone at the bottom is the last pullback before the pump eventually if price breaks below that will result to a structure break/trend break 🗣️🗣️ BULLISH
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🆓NKN (NKN) May-12 #NKN $NKNNKN has just rejected from the 0.65$ zone and it could have a small correction to 0.55$ then find out a new chance to generate new rally up to 0.8$ and 1.1$ zone in this May.
📈BUY
-Buy: 0.535-0.565$ if A. SL if B
-Buy: 0.635-0.665$ if A. SL if B
📉SELL
-Sell: 0.78-0.82$. SL if A
-Sell: 1.07-1.13$. SL if A
♻️BACK-UP
-Sell: 0.535-0.565$ if B. SL if A
-Buy: 0.39-0.41$. SL if B
❓Details
🕯Timeframe : 12 Hours
📈Red Arrow : Main Direction as BUY & SELL section
📉Blue Arrow : Back-Up Direction as BACK-UP section
🟩Green zone : Support zone as BUY section
🟥Red zone : Resistance zone as SELL section
🅰️A : The Close price of candlestick is Above the zone
🅱️B : The Close price of candlestick is Below the zone