GJ today with the News, broke out of the Uptrending Channel where it has been for the past days. Now I see 2 scenarios:
a. It retests the Channel and dives down
b. It breaks back into the Channel and continues the Uptrend
Polymath consolidates after strong sell-off and it´s prepairing for bullrun.
Buy POLY now or after breakout the red box which is strong resistance zone , set limit orders into the green box in the chart, place stoploss below 1060 sats . and set targets into the orange boxes.
WEEKLY: Price on downtrend making LH & LL since aug 2017
Nice price rejection at 0.76 with double doji
DAILY: Price broke the trendline with nice double top
Rejected off support & fib 61.8
CONCLUSION: I will be looking to short this pair if we can
manage to break through first support and the second one
RSI : 63
Volume : In good position
Accumulation Area : 4150 sats - 4350 sats
Target 1 : 4550 sats
Target 2 : 4871 sats
Target 3 : 5181 sats
Target 4 : 5390 sats
Target 5 : 5769 sats
Target 6 : 6230 sats
Stop Loss : 4032 sats
Remember to drop your LIKES and press the FOLLOW button if you are interested by our forecast and be free to DISLIKE the...
COLM credit spread will be setup tomorrow and it'll be 90/95 Credit call Spread. EXP June 21
Support broke and it fell below $100 it may continue to fill and go a little bit lower. SPY is going lower as time goes on as volatility continues
ANALYSIS ON GBP/AUD PAIR:
*-Price broke through the consolidation zone between 1.845 & 1.875
*-Price broke the trendline & retested it
*-Full body closure below 1.845 which has played as a strong level
*-Moving averages almost crossed
*-On 4H timeframe we have a bearish spinning top
Next destination on this pair is the 1.795 support level.