SAND is forming a Bullish Pattern which is a Cup & Handle Pattern! The Pattern Hasn't Formed completely Yet, But It will Complete Eventually and That's When We Need a Break out For SAND. IF it Happens, we Can Expect a Bullish Movement as Much as The Measured Price movement To happen (AB=CD). If our Predictions Come True, We can Expect SAND to Be at 9$ soon Which is a New ATH for It.
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Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Thank you for seeing idea . Have a nice day and Good luck
@SocratesJnr, Looks more like a skillet and handle
bestoch
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@SocratesJnr, it's more a deep well to short lol
BodiesXWix
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May I offer up a slightly different interpretation via Smart Money Technical Analysis? First off my analysis is done either Daily or 4 hours because that is how the commercial/institutionalized banks trade. Primarily there is a weekly profile but I won't get into that. Ok, So you have your most recent high that was broken and had a short pullback before another good run The short-term high was 18th of November and pull back to the 22nd of November for the low. This is where you place your smart money Fibonacci (100. .886, .79.70.5 .62 .5 and 0 - If you want to do extensions do them in -0.27, -1.27, or -0.5 -1.5 or -0.62 or - 1.62. This way you don't have to flip the fib to know it's "Go to extensions" Price actions looks for two things in the smart money algorithm, Liquidity and Balance. Looking at the weekly Chart there is what we call a rebalance redeliver where the wick of a candle extends further out than the next candle in the succession but still continues to go that way. I have notated that candles high on the weekly as well noted the following weeks which with a yellow line shoowing that the [revious was higher. This means to the algorithm is that there is probably still an imbalance that price action needs to address unless it is balanced. And I do not see it balance in this particular area. As well as the weekly fair value gap is in the same area as the redeliver rebalance. And price is currently hovering under the daily Fair Value Gap Created on 12/23. The price will probably slowly float towards the imbalance until that weekly imbalance is addressed. It will make some pull-ups to get retailers to buy and then turns around and take them out with a short term until it finally hits the imbalance, below the 100 level of the Fibonacci. It may fill the gap completely, or it may just get to halfway and touch the wick enclosing that space to balance it. But either way, could we be going to $8. Well if we break this $8 High I don't see why we woud;dn't be going for the first extension of $9.77. But I don't think it's as simmple as two little tea cups. That some retail trader theory that doesn't makes sense because it has no narrative other than "Shapes" Just thought I would give out my personaly opinoin. Yes, I think we'll get there. When?? Probabably March or so?
v2hhbytx74
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@Tedzily I think you’ve a solid case here
Benettel
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@Tedzily, you are totally right. that lower higher at 7.000 on your 4H Chart indicates weakness which the current support cannot hold back. the lower zone below that has been tested multiple times, so it is weakened and orders there are exhausted. the surface of your FVG weekly is the key point. It is the Fail-to-Return (FTR) that took price to the ATH and price has not yet returned there. Fresh Buying Orders are there, waiting to picked up. Cheers!!