VET is going strong. It perfectly held the 1st resistance line at $0.005. I also has broken the 2nd resistance line at $0.0062.
However, the RSI shows that VET is now in the OVERBOUGHT territory.
So, I have two trading scenerios.
The first scenario is the ABC blue line. If VET doesn't hold the 2nd resistance line at $0.0062. The next move will be a correction to the support at $0.005. After that, A move above the 2nd resistance line to test the $0.009 territory.
The second scenario is the ABC red line. If VET goes parabolic it will test the 3rd resistance line at $0.009. The next move will be a correction to the support at $0.0062. After that, a break out from the last resistance in the chart.
I already bought at $0.005- 0.0053 price ranges. I am just waiting to see a selling candle or pattern before dropping my position for short term profit for VET.
Just remember to set always your stop-loss especially if you will buy at this level. it is because the risk of VET of falling is higher now.
Hit like and follow me if you learn something and for more updates :)
Happy Trading!
Please always do your own charting and research!
However, the RSI shows that VET is now in the OVERBOUGHT territory.
So, I have two trading scenerios.
The first scenario is the ABC blue line. If VET doesn't hold the 2nd resistance line at $0.0062. The next move will be a correction to the support at $0.005. After that, A move above the 2nd resistance line to test the $0.009 territory.
The second scenario is the ABC red line. If VET goes parabolic it will test the 3rd resistance line at $0.009. The next move will be a correction to the support at $0.0062. After that, a break out from the last resistance in the chart.
I already bought at $0.005- 0.0053 price ranges. I am just waiting to see a selling candle or pattern before dropping my position for short term profit for VET.
Just remember to set always your stop-loss especially if you will buy at this level. it is because the risk of VET of falling is higher now.
Hit like and follow me if you learn something and for more updates :)
Happy Trading!
Please always do your own charting and research!