RUNE had a spectacular run over the past week. We know a pullback is likely coming sooner than later, and it looks like the time has come. Price has been losing momentum over the last 24hrs and the daily uptrend has just broken bearish. Waiting for a lower low on the 4hr if you are conservative.
This was exactly what I was looking for and it perfectly shows how it’s gonna be, try not to make it so risky and stick to your main plan on any positions that you are taking right now!
Price made big run up, getting rejected at daily resistance / over extended. Price is now making lower lows as of recent price action indicating a reversal. Price formed head and shoulders pattern on 15 min chart with a 61.8% retracement from high to low. Bearish divergence on 15 min recent bullish action.
RUNE is trying hard to go above the resistance area but gets multiple rejections. The big wick shows heavy selling and price rejection. RUNE needs to close a daily candle above $9 to get bullish momentum. If RUNE is unable to go above $9 then we will see a test of the lower support area. This is no trade zone.
Sort around 9.5-9.3 TP 8.8-8.1 stop loss 9.8.
Rune has rise three fold recently due to recent news of opening ethereum and btc blockchain. Now news is sold out seeing a huge dump to around 8.
Confirmed by declining 4H Volume.
I must say don't sort like a swing. take it as a scalp. A long move is already predicted in my previous analysis.
Rune Break Handle of Newly Cup and Handle Pattern on 30 Minute time frame chart pattern. Here we added new entry.
Close all sort around 9.2
Entry 9-9.3 Target 10 atleasdt.
Stoploss according to rule is below 8.8
Rune facing the daily resistance currently , can break it up and if it does 14$ is possible, also the support is marked in the chart if failed to break the resistance.
Idea is to take short position as the price action has reached a major horizontal resistance after a strong bullish trend. Most likely it is going to retrace up to 23.6% fib level so the same is set as target price to take profit.
Here I want to share some tips that helps in buying the dip.
WAIT FOR WEEKLY CLOSE....IF PRICE NOT DROP. LIKE ELEVATOR...OPEN A LONG AT 8-8.3
If you have any ideas of buying the dip please share through comment.
5 REAONS ITS A DIP
1. SUDDEN FALL (Don't Buy, If its not the first one or extremely low...like last time I buyed BNB at 335 and its dip further to...
RUNE is now testing the major resistance of the $9 area. If RUNE breaks this resistance level and hold above it then we see good upside movement. The next resistance is $9.90-$10.15 area and $12.85-$13.00 area. The local support is $7.50-$7.60 area and major support is $5.45-$5.65 area.
Educational Video on how I #TrendFollow using Fibonacci and fixed volume profiles.
Key Points -
1. Find an impulse and a peak/momentum shift.
2. Place Volume Profile & Fibs in the correct area.
3. Where the Fibs + VP coincide, will garner the likeliest probability of a bounce.
DISCLAIMER:
This is not financial advice! This is an opinion-based show. I am not a financial adviser. Please only invest what you can afford to lose, and we encourage you to do your own research before investing.
everyone should buy and sell according to their own strategy.
Everything you need to know is outlined in the chart and keep in mind that we are moving...
