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ijustcoin
Nov 18, 2022 10:51 AM

SUSHI - A potential move down to $0.7 Short

SUSHIUSDT Perpetual ContractBybit

Description

Hi,
This is iJustCoin, the one lucky trader who puts his money where his mouth is!

Sooo, if money is evil, this is going to be a hell of a weekend!

Look as SUSHI price action at the 3h! Price fromed a pennat on SUSHI.The pennat has been broken downside. I caught a short in the Red Rectangle area and sold at $1.302.
I am expecting the price action to test the previous support trend line of the pennant as a resistance and reverse down after that.

Using Trend Based Fib Extension i expect the price action to touch 0.5 and 0.618 fib levels which are $0.701 and $0.832 price levels.
They are pointed at the chart as a Green Rectangle.

I expect that to happen between November 22 and November 24.

Let's make some money to get our dreams come true!

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Click like and make sure you are following me on TradingView!

Feel free to ask me any questions related to the idea in the comment section - i'll be glad to reply.

Good Luck, Bye-bye!
And remember this market doesn't respect doubters!

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Chart Code:

Pastel Green Vertical Line - Long Signal (PAI Reader Strategy)
Pastel Red Vertical Line - Short Signal (PAI Reader Strategy)

Red Dashed Lines - Downward Reversal Momentum
Green Dashed Lines - Upward Reversal Momentum

Green Rectangle - Buying Area
Red Rectangle - Selling Area

Red Line - Stop Loss
Bold Aqua Dotted Line - Estimate Price Direction

Yellow Dotted Lines - Estimate Timerange of the price target might be getting hit

Orange Dotted Line - Profit taking Point
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Comments
SwallowPremium
That’s one possible option, thanks for the post!
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