CREAM, CREAMBUSD - looking for a sell signal
Hi guys,
CREAMBUSD could be a good pair for selling given the recent 70 percent rally that looks overextended to me already. A rejection in the supply zone will be a sell signal down to the $130 zone. I will be looking for a move below the 21-day EMA and the uptrend line on 4-hour.
A close above $180 will serve us as trade cancellation signal
Other than that there are clear signs of bearish divergence on both 1-day and 4-hour charts:
I know the fundamentals are relatively solid with the new flash loans announcement for the Cream Finance platform, but I would rather sell the news for now than look for accumulation around our target for profit taking.
Please, note that this is a high risk trade.
Cheers,
CREAMBUSD could be a good pair for selling given the recent 70 percent rally that looks overextended to me already. A rejection in the supply zone will be a sell signal down to the $130 zone. I will be looking for a move below the 21-day EMA and the uptrend line on 4-hour.
A close above $180 will serve us as trade cancellation signal
Other than that there are clear signs of bearish divergence on both 1-day and 4-hour charts:
I know the fundamentals are relatively solid with the new flash loans announcement for the Cream Finance platform, but I would rather sell the news for now than look for accumulation around our target for profit taking.
Please, note that this is a high risk trade.
Cheers,
Comment:
Still waiting for the 21-day EMA to be taken out
Comment:
Almost hit our target !!!