Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
SAND rejected a strong demand zone and round number 1.0 so we will be looking for buy setups on lower timeframes.
on DAILY: SAND formed a valid inverse head and shoulders but it is not ready to go yet.
For the bulls to take over, we need a momentum daily candle close above the gray neckline and red trendline.
🎯Targets => Our first resistance / target would be around 2.65 so I will be monitoring price action there.
If we break it upward (purple projection) then a movement till 4.7 would be expected.
Meanwhile, until the buy is activated, SAND can still trade lower inside the demand zone.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
SAND rejected a strong demand zone and round number 1.0 so we will be looking for buy setups on lower timeframes.
on DAILY: SAND formed a valid inverse head and shoulders but it is not ready to go yet.
For the bulls to take over, we need a momentum daily candle close above the gray neckline and red trendline.
🎯Targets => Our first resistance / target would be around 2.65 so I will be monitoring price action there.
If we break it upward (purple projection) then a movement till 4.7 would be expected.
Meanwhile, until the buy is activated, SAND can still trade lower inside the demand zone.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich