SKL - Bear Flag in Play
We got the expected drop to new lower lows (see related idea), and current price actions look corretive (forming a bear flag).
There isn´t RSI divergence either.
Therefore I expect further lows soon.
SKLUSDT trade ideas
SKL to 0.01Seems that the downtrending on Log Scale keeps its course. It did not break it at 0.06 and neither on 0.05
SKLUSDT on weekly support and may head for next resistanceThe price was rejected from monthly resistance MR1 and came back to weekly support WS1. It broke that support for a while but it seems that it is on way to claim it back. This definitely opens the way for the price to again aim for the monthly resistance MR1. If anything goes wrong with this plan and price loses the WS1 zone again then next support we should expect is daily support DS1 and further down the weekly support WS2. For short term I have another idea which I will share in a separate post.
SKL - 4H Elliott Wave Count
My primary count considers we're currently on green wave C of blue wave 4.
Not sure this wave was finished, since we didn't have a 100% extension on waves A-B (this is not mandatory, but is very common).
In any case, I'm bearish and expect another push to the downside soon.
SWING TRADE (SKL) deviations then sending it to upper
entry 0.003412
stop loss 0.3122
targets 0.06764
#SKL/USDT - Long - Potential 7.52%Direction: Long
Market: Spot
Risk: 0.25% - 1%
#USDT_SKL
Exchange: BINANCE
Timeframe: 360
TP1: 0.03628
Entry: 0.0338
STOP: 0.03132
Entry Conditions:
| Trendline break
| Relative volume trendbreak and resistance break
Close to heading RV overbought and theres a risk of BTC being rejected at its current trendline, but I think we can catch enough volume here to hit take profit. If BTC gets rejected close early.
SKL LONG SETUPHi, dear traders. how are you ? Today we have a viewpoint to BUY/LONG the SKL symbol.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
SKL Wave 2 of 5 seems completeSKL retested support line once again after false breakout of 0.046usd. According to Fibonacci line it is currently sitting on 0.78 level which seems wave 2 of main 5 wave.
I think we may see now wave 3 impulse from this point.
SKL Long-term accumulation is happening now. Potential outcomes if the Bulls are successful from the current price at 0.05 is 62X @ 1.618 and 85X @ 3.168.
Skl | Trying To Breakout Sklusdt
Formed Falling in Wedge Pattern In 4h time-frame Incase Of Breakout Expecting 30-50% Bullish Move
Remember: We only give ldea's from our
experience and knowledge, it does not
mean that it will be 100% correct, the
market is always unpredictable, anything
can happen anytime.
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SKLUSDT is testing the supportSKLUSDT recently experienced a false breakout from a static resistance level, indicating a potential trend reversal.
Currently, the market is testing the support level around $0.04. If the price fails to hold the support level, it could potentially drop further and retest the demand zone at around $0.035, where buyers are likely to be waiting to enter the market.
According to Plancton's strategy , we can set a nice order
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ black structure -> <= 1h structure.
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Follow the Shrimp 🦐
SKLUSDT is testing the resistanceSKLUSDT is testing the dynamic support level. Dynamic support is a support level that is created by a moving average or other technical indicator that adjusts based on recent price action.
If the price of SKLUSDT holds above the dynamic support level, it may indicate that the market is likely to continue its uptrend. However, if the price breaks below the dynamic support level, it could indicate a potential trend reversal.
The price of SKLUSDT is expected to retest the 4-hour resistance at 0.04$, which is a key level of resistance for the market. If the price breaks above this resistance level, it may indicate a potential continuation of the uptrend.
If the price of SKLUSDT loses the dynamic support level and retests it as new resistance, according to Plancton's Rules, new short positions may be considered. Plancton's Rules is a trading strategy that involves waiting for a breakout of a key level of support or resistance, and then entering a position in the direction of the breakout.
–––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <= 1h structure.
Follow the Shrimp 🦐
SKLUSDT 2H LR MTSKL has completed two valleys and hit the 0.5 Fibonacci retracement and gained strength from its upward trend line and is ready to move towards the 0 Fibonacci area.
Fast short on SKLFast short on SKLUSDT. The idea that we are in the flat channel and this point around middle line of this channel. I think we will test bottom line of the channel before go up. Let`s see...
trend Line of SKLUSDT LOW Risk Short AreaLOW Risk short Area that helps us to buy in a low risk area.
Fast long on SKLFast long on SKLUSDT. The idea that we are in the local uptrend channel. And now we are on the bottom line of this channel. I think we will go to test up line. Let`s see...
I'm slowly learning so please point out my errorsUpdate on my graph. Not sure if I'm doing this correctly but any assistance would be appreciated.
Massive bullish pennant forming on the 4 hourMy first post and it looks promising from a bullish perspective. Any thought?
Fast long on SKLFast long on SKLUSDT. The idea that we will very fast update low and fast go back to new local high. I wait price on the green line for entry. Will see...
waitng for DO or retracementWaiting for DO or retracement.
If you check 1D it is creating the hand of the Cup.
Big Buy move approaching macd 4H
