Hi friends, I hope y'all having an amazing weekend and also preparing for the last week of the month ;)
Today, we got a counter-trend signal on this baby. This crypto has been dropping for weeks, and it didn't retest a couple of key level targets on the daily upwards. Moreover, huge gaps were formed between the price and short-term m.a's on the weekly and monthly, they have to be closed with retests that will fully confirm the bearish trend continuation that we hopped on - on the 1st week of May 2022 (check the previous posts). So, let us now look at how our trade will be triggered and dis-confirmed.
Bulls: -The price will bullish rally for the H&S and short-term m.a's trend and for the 200 m.a - probably after it has closed with a bullish reversal candle pattern above the 1st 4H Key Lvl and 8 m.a. I call this type of trade an "H&S A-E.3 signal"
Bears: -The price will dis-confirm this trade by dropping to its stop-loss point - probably after it has bullish bounced off the Daily Neckline 2 with a bearish reversal candle pattern that will lead the price to bearish break and retest 1st 4H Key Lvl together with the 8 and 50 m.a's.
That's it for today. I hope you found value in this. If you have a different concept, feel free to share it in the comments section or in private with me, I'd love to know what you're thinking!
Stay Blessed,
Doji-2k1.
Today, we got a counter-trend signal on this baby. This crypto has been dropping for weeks, and it didn't retest a couple of key level targets on the daily upwards. Moreover, huge gaps were formed between the price and short-term m.a's on the weekly and monthly, they have to be closed with retests that will fully confirm the bearish trend continuation that we hopped on - on the 1st week of May 2022 (check the previous posts). So, let us now look at how our trade will be triggered and dis-confirmed.
Bulls: -The price will bullish rally for the H&S and short-term m.a's trend and for the 200 m.a - probably after it has closed with a bullish reversal candle pattern above the 1st 4H Key Lvl and 8 m.a. I call this type of trade an "H&S A-E.3 signal"
Bears: -The price will dis-confirm this trade by dropping to its stop-loss point - probably after it has bullish bounced off the Daily Neckline 2 with a bearish reversal candle pattern that will lead the price to bearish break and retest 1st 4H Key Lvl together with the 8 and 50 m.a's.
That's it for today. I hope you found value in this. If you have a different concept, feel free to share it in the comments section or in private with me, I'd love to know what you're thinking!
Stay Blessed,
Doji-2k1.