We are currently holding our shorts looking to ladder buy orders and flip into a long between 6300-6150
We see long term resistence and support holding this is just a matter of seeing which direction we break first
For CWN the answer seems Clear, with current conditions after this last move down we expect a strong move up
We seem to have held just above the downtrend line anchored to 20k and 9.9k, we are also currently in a high volume area which tends to see a good amount of consolidation
the first green box will be the target for a pull back while the upper box is the target for a potential reversal
Shoutout to @g_squared_iv who is a fallen knife catcher, this is how we honor...
We are getting a bit extended, with divergences showing on higher timeframes, there is 60 % chance of reaching higher box. So this should be pretty nice risk to reward trade, keep an eye on it and have in mind there might not be liquidity when needed, so reserve some margin.
Here are some areas that I would be interested in to try a ltc long. Divergences starting to appear on 4 hr 2.13% , possibly we could have one on daily also, so seems like an interesting area to give it a try.
We are coming close to logner term trend line, it also aligns well with horizontal resistance areas.
There are divergences on 4hr and less, we are far from 200 EMA there should be some bounce here, if not, then am thinking flip position and wait for the lower box.
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