Evening fellow Traders!
Today we will be considering the trading pair SUSHI/USDT
Right from November last year, SUSHI started an uptrend (Impulsive move) to gain 4000% increase in price up until march earlier this year when it was due a correction.
The Correction so far has been an impulsive ABC correction, spanning at least 266 days and also serves as accumulation phase.
Judging by the I impulse wave growth and that the correction stopped just under the .382 retracement level, we can say the is a First Wave Extension.
Should this be the bottom, Price targets for the III impulse wave is at least at a $100 dollars.
Enter with stops just below the 0.5 retracement level for invalidation reasons and target
$60-$65 as the first target and $100-$104 as the 2nd target.
NOTE: DURATION OF TRADE MAY BE INACCURATE.
Today we will be considering the trading pair SUSHI/USDT
Right from November last year, SUSHI started an uptrend (Impulsive move) to gain 4000% increase in price up until march earlier this year when it was due a correction.
The Correction so far has been an impulsive ABC correction, spanning at least 266 days and also serves as accumulation phase.
Judging by the I impulse wave growth and that the correction stopped just under the .382 retracement level, we can say the is a First Wave Extension.
Should this be the bottom, Price targets for the III impulse wave is at least at a $100 dollars.
Enter with stops just below the 0.5 retracement level for invalidation reasons and target
$60-$65 as the first target and $100-$104 as the 2nd target.
NOTE: DURATION OF TRADE MAY BE INACCURATE.
Trade active:
SUSHI is back above support zone and in our accumulation range after breaking out from a pennant recently. Bullish price action and growth is imminent!
Trade active:
Sushi is now at a crucial point. PoC(Point of Control) area which has the most traded volume. Now acting as resistance, should we get rejected, a move to the nearest support @$8.5 seems logical and if we fail to flip that, all the way down to $7.
However, should we break above, with volume support, $13.4 & $16.2 are the targets before getting a rejection and coming back for a retest of the PoC level.
However, should we break above, with volume support, $13.4 & $16.2 are the targets before getting a rejection and coming back for a retest of the PoC level.
Trade closed: stop reached:
Stop-loss Triggered.
We move onto the next trade
We move onto the next trade
Comment:
Trade idea invalidated.
