Chain (XCNUSDT) followed the pattern we suggested 40 days ago and after a short rise it dropped to the -0.236 Fibonacci extension level:
As you see, today is having a +22% rise. The long-term pattern is a Bearish Megaphone on this 1D time-frame. This short-term rebound is aiming at the 1D MA50 (blue trend-line), between which and the July 11 Lower Highs trend-line, all previous three Lower Highs were formed. This is our target but in order to engage in further buying, we need to see a break above the 1D MA100 (green trend-line), which is unbroken since July 11.
In that case, our target would be the 1D MA200 (orange trend-line), which potentially by that time should be near the 0.618 Fibonacci retracement level. In the event of a strong rejection on the Lower Highs trend-line such as on October 20, September 22 and August 21, we will treat it as a sell opportunity and target the 0.04765 Low and then the -0.236 Fibonacci extension again.
P.S. See how the aggressive rises take place when the 1D RSI breaks above its Lower Highs trend-line and the 1D MACD makes a Bullish Cross.
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** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. **
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You may also TELL ME 🙋♀️🙋♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁
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👇 👇 👇 👇 👇 👇
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
As you see, today is having a +22% rise. The long-term pattern is a Bearish Megaphone on this 1D time-frame. This short-term rebound is aiming at the 1D MA50 (blue trend-line), between which and the July 11 Lower Highs trend-line, all previous three Lower Highs were formed. This is our target but in order to engage in further buying, we need to see a break above the 1D MA100 (green trend-line), which is unbroken since July 11.
In that case, our target would be the 1D MA200 (orange trend-line), which potentially by that time should be near the 0.618 Fibonacci retracement level. In the event of a strong rejection on the Lower Highs trend-line such as on October 20, September 22 and August 21, we will treat it as a sell opportunity and target the 0.04765 Low and then the -0.236 Fibonacci extension again.
P.S. See how the aggressive rises take place when the 1D RSI breaks above its Lower Highs trend-line and the 1D MACD makes a Bullish Cross.
-------------------------------------------------------------------------------
** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. **
-------------------------------------------------------------------------------
You may also TELL ME 🙋♀️🙋♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁
-------------------------------------------------------------------------------
👇 👇 👇 👇 👇 👇
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.