SNX (Synthetix Network) Binance Chart
Ichimoku: The lagging span was blocked by the candle. Price still below the cloud so trend still bearish.
However
Kijun and Tenkan as support
And
Trend line: was broken which shows some signs of reversal. Price now retesting the trend line, could bounce and start an uptrend.
Targets: Fibo extensions on the chart
How to play it?
You could enter now with a stop loss just below the trend line (about 18.40) OR wait for the price to be back above the cloud and the lagging span to break the trend line. With the 2nd option you'll miss a part of the move but the change of trend will be confirmed.
Trade safe
Ichimoku: The lagging span was blocked by the candle. Price still below the cloud so trend still bearish.
However
Kijun and Tenkan as support
And
Trend line: was broken which shows some signs of reversal. Price now retesting the trend line, could bounce and start an uptrend.
Targets: Fibo extensions on the chart
How to play it?
You could enter now with a stop loss just below the trend line (about 18.40) OR wait for the price to be back above the cloud and the lagging span to break the trend line. With the 2nd option you'll miss a part of the move but the change of trend will be confirmed.
Trade safe