Price has reached 3M demand on JD, triggered long here on the MN.
This is a long term investment for me so I purchased the stock, will also be looking for an options trade if we start to see bullish moves on the WK chart.
Price is way too low to think about shorts, longs only!
This is exactly why you dont buy after a huge rally! Price is losing steam, WK Demand and Support is broke now, WK in a downtrend, MN uptrend will be broke after this month.
I will wait for price to retrace to the 3M demand area drawn here, or wait for new and strong bullish impulses to start showing up on the WK and MN charts.
No good demand zones for longs on FB. 6M and 12M charts have no pullbacks.
Shorts could be possible once current MN demand is removed, but we will have to wait in see. At this point this is not a tradable stock for me!
WK Supply drawn in a previous post was triggered for a short and played out perfectly.
Price is now printing all time lows, down trends on the 3M/MN and WK time frames.
New supply zones forming on all of the higher time frames. At this point I won't be taking any more shorts unless there are very obvious supply zones. I am very cautious when it comes to shorts...
3M Demand in control on Ethereum, expecting new demand zones to be created on lower time frames such as the MN and WK. D1 already printing longs on Bitcoin, should see similar price action on Ether.
Have a great week!
Testing/demo on 1H charts, bull engulf, large candlestick, pause, expect rally from here with longer term long bias, been testing this a bit lately on stocks and it works great, we shall see how it works with crypto :)
Happy Friday All!
Closed all of my crypto trades (BTC, ETH, BCH, LTC and DASH).
All are setting up similar to the bitcoin chart, at this point all cryptos are so highly correlated, just going to wait this out.
Downtrends and new supply zones on D1, bearish engulfs on WK, nothing real strong looking on the WK either.
My plan is to:
1. Wait for price to reach recent WK imbalance,...
Valid WK demand area for long on DASH coin.
Already long from there but will add to my position, that WK demand drawn confirms MN demand, expecting price to move higher from there :).
Have a great weekend!