PUNDIX pumped 153% after the bullish Supertrend Ninja - Clean signal (green vertical line on the background). Forming leg C of the Elliot Wave (blue lines).
PUNDIX broke out of the bullish Zone of the Ichimoku Cloud , which is bullish . The RSI is in the overbought zone at 84. RSI Brown at 123. Which is clearly overbought If we take a look at the Average Directional Index ( ADX DI) its starting to be bearish , as it is pointing downwards. Currently PUNDIX is way above its upper Bollinger Band , Band Basis 20 Period SMA . A retrace back within the Bollinger Band is more likely. The risk to reward right now to enter a trade is bad.
After a retrace PUNDIX might possibly go up for another run, before forming bearish divergence. Remember to always take profits and use proper risk management!
Thank you for reading.
Namasté 🙏
Disclaimer: Ideas are for entertainment purposes only. Not financial advice. Your own due diligence is highly advised before entering trades. Past performance is no guarantee of future returns.
What Indicators Do I Like To Use:
I am using the "Supertrend Ninja - Clean", which is a trend-following indicator (Green and red vertical lines on the background). When the background of the candlestick closes green (vertical line). It indicates a possible bullish (up)trend. And red for possible downtrends.
PUNDIX broke out of the bullish Zone of the Ichimoku Cloud , which is bullish . The RSI is in the overbought zone at 84. RSI Brown at 123. Which is clearly overbought If we take a look at the Average Directional Index ( ADX DI) its starting to be bearish , as it is pointing downwards. Currently PUNDIX is way above its upper Bollinger Band , Band Basis 20 Period SMA . A retrace back within the Bollinger Band is more likely. The risk to reward right now to enter a trade is bad.
After a retrace PUNDIX might possibly go up for another run, before forming bearish divergence. Remember to always take profits and use proper risk management!
Thank you for reading.
Namasté 🙏
Disclaimer: Ideas are for entertainment purposes only. Not financial advice. Your own due diligence is highly advised before entering trades. Past performance is no guarantee of future returns.
What Indicators Do I Like To Use:
I am using the "Supertrend Ninja - Clean", which is a trend-following indicator (Green and red vertical lines on the background). When the background of the candlestick closes green (vertical line). It indicates a possible bullish (up)trend. And red for possible downtrends.
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Tradingview is the only channel I use.
Tradingview is the only channel I use.