SNX - 500+ days range comes to an end

Synthetix / United States DollarCoinbase

Description

⋅ Nov 18, 2023 7:34 PM

SNX has been trading in this accumulation range for more than 500 days now, but I am sure this will come to an end coming days.

First step would be a weekly candle close above the range highs. Think we will see a strong push towards 5$ after that.

Stay safe!

Comment

⋅ Nov 20, 2023 1:14 PM

And there it is :)

Comment

⋅ Nov 27, 2023 9:12 PM

Now another deep pullback into former range highs. This should have bottomed out today, meaning weekly low should be in.

Order cancelled

⋅ Apr 29, 2024 1:47 PM

Almost reached target, but could not maintain the trend. Overall weak performance.

Won't trade this again!

Stay safe!

Support and Resistance

Comments

NoFOMO_

⋅ Nov 20, 2023 5:01 PM

Nice work, I've reached the same conclusion. If you look at the Chainlink chart it also had over 500 sideways accumulation before its breakout.

TV288

⋅ Nov 20, 2023 6:23 PM

@DeathstrokeTerminator, Yes :) These setups are actually pretty easy to spot. Playing out nicely so far.

NoFOMO_

⋅ Dec 9, 2023 6:16 PM

Where do you expect it to pull back to? $3.45 appears to be a good S/R flip level