Gooooooooodmorning Folks,
Greetings from Amsterdam.. Woke up this morning opening Tradingview and got my mind blow up with all these GREEN numbers on crypto..
Everybody happy again.. Control your emotions these days and try to look critical to the charts as you always do and really ask yourself what you see while looking at the charts.
Well yesterday I posted my idea on Sandbox/USDT.. With a possible retracement of 30%.
Well the battle is on..
Personally I like the 4 hour chart. Because I have the idea it gives me more insight than a daily chart (how the battle is fought throughout the day) and less rumor than 1 or 2 hour chart.
At the first top I see a Dark cloud cover pattern (the big white and half black candle) this is bearish.. Price fell back to 1st support line.
Than
Price rallied back up because of the Bullish Engulfing pattern.. BUT immediately you see a big black candle rejecting higher prices.. And then the BEARISH ENGULFING PATTERN sets in.
and now we are fighting 2nd support line.
Personally my feeling says support line will not hold seeing all those bearish signals.
For example look at those high shadows on every candle even the white ones.. that is not positive..
Every bullish signal is followed by a bearish signal.. That is not positive.
But hé I can be wrong because you don't know after it has happened.. But the signals are turning more bearish than bullish.
So watch out.. if you have a position in Sandbox maybe you can cut down on the position, or use trailing stop order..
Quote of the day;
No one is born a great trader. One learns by trading.
Greetings from Amsterdam.. Woke up this morning opening Tradingview and got my mind blow up with all these GREEN numbers on crypto..
Everybody happy again.. Control your emotions these days and try to look critical to the charts as you always do and really ask yourself what you see while looking at the charts.
Well yesterday I posted my idea on Sandbox/USDT.. With a possible retracement of 30%.
Well the battle is on..
Personally I like the 4 hour chart. Because I have the idea it gives me more insight than a daily chart (how the battle is fought throughout the day) and less rumor than 1 or 2 hour chart.
At the first top I see a Dark cloud cover pattern (the big white and half black candle) this is bearish.. Price fell back to 1st support line.
Than
Price rallied back up because of the Bullish Engulfing pattern.. BUT immediately you see a big black candle rejecting higher prices.. And then the BEARISH ENGULFING PATTERN sets in.
and now we are fighting 2nd support line.
Personally my feeling says support line will not hold seeing all those bearish signals.
For example look at those high shadows on every candle even the white ones.. that is not positive..
Every bullish signal is followed by a bearish signal.. That is not positive.
But hé I can be wrong because you don't know after it has happened.. But the signals are turning more bearish than bullish.
So watch out.. if you have a position in Sandbox maybe you can cut down on the position, or use trailing stop order..
Quote of the day;
No one is born a great trader. One learns by trading.