L3gOnD

LUN Ready for Breakout

Long
BINANCE:LUNBTC   None
Bought more $LUN at .0014675 on Kijun

1) LUN making higher lows and RSI making Lower Lows, which is hidden bullish divergence and a continuation patter.
2) Kijun touch in an uptrend is usually a great place to buy especially since it was not preceded by a standard bearish divergence. Kijun was hit.
3) The falling wedge pattern is a bullish continuation and the volume profile fits it perfectly, we will need a break of the pattern with substantial localized volume to confirm.

Looking for LUN to continue its uptrend here.

Comments


something more to add?
Reply
L3gOnD favao14
@favao14, It didn't break out. As with any pattern trade you must have a breakout and localized volume as I stated in my third bullet point. Pattern trades always have volume profiles that confirm on a breakout with significant volume.
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L3gOnD L3gOnD
@L3gOnD, I do still hold mine for longer term than just the set-up however.
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favao14 L3gOnD
@L3gOnD,
It is normal a low volume on weekends, tomorrow we will see how it behaves
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