Keep it simple!
Looking at ONT on the weekly, we can see a level of support was held at the 640 Sat range (green box). This was the buy level I told many about previously. For those that took this trade, you have now hit your first and second profit targets (orange box).
What I would like to see now from ONT is a re-test of the 640 to 800 Sat's range, forming a higher low. and signifying a level of support to be the "bottom". If these re-tests breaks below the 640 range then ONT has a much lower way to go.
So far the 966 Sats range is holding, but a at this level we must also see a higher low formation.
Short term I will be bearish as I want to see this re-test in the green box.
Looking at ONT on the weekly, we can see a level of support was held at the 640 Sat range (green box). This was the buy level I told many about previously. For those that took this trade, you have now hit your first and second profit targets (orange box).
What I would like to see now from ONT is a re-test of the 640 to 800 Sat's range, forming a higher low. and signifying a level of support to be the "bottom". If these re-tests breaks below the 640 range then ONT has a much lower way to go.
So far the 966 Sats range is holding, but a at this level we must also see a higher low formation.
Short term I will be bearish as I want to see this re-test in the green box.