SELL ORDER: 0.00003890
BUY ORDERS: 3325, 3350, 3400, 3425
Analysis:
- bearish engulfing pattern reinforces historic 4000-4050 resistance level
- price below Ichimoku Cloud Senkou A, and soon B support
- thin Ichimoku Kumo Cloud gives no confidence of support
- the market is exhausted after this rally, people are buying at the top
- expect a loss of Kumo Cloud to be extremely bearish, hence the sell order!
- piercing pattern support should be considered weak considering exhausted buying
- loss of 0.00003597 Fib is not certain, but it will be tested. Expect price to find (temporary) support here. Given the height of this rally I think a retracement below this point is logical
- the safe place to buy then is far below the Fib support, near the areas of previous support provided at Morning Star and Piercing Pattern prior pullbacks
- the icing on the cake is that the Pitchfork center line near 3300 area is a strong psychological support area and a rally from this point is to be expected
image]
BUY ORDERS: 3325, 3350, 3400, 3425
Analysis:
- bearish engulfing pattern reinforces historic 4000-4050 resistance level
- price below Ichimoku Cloud Senkou A, and soon B support
- thin Ichimoku Kumo Cloud gives no confidence of support
- the market is exhausted after this rally, people are buying at the top
- expect a loss of Kumo Cloud to be extremely bearish, hence the sell order!
- piercing pattern support should be considered weak considering exhausted buying
- loss of 0.00003597 Fib is not certain, but it will be tested. Expect price to find (temporary) support here. Given the height of this rally I think a retracement below this point is logical
- the safe place to buy then is far below the Fib support, near the areas of previous support provided at Morning Star and Piercing Pattern prior pullbacks
- the icing on the cake is that the Pitchfork center line near 3300 area is a strong psychological support area and a rally from this point is to be expected
image]
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ND = No DemandNota
DON'T BE FOOLED INTO BUYING AT THE TOPNota
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Hey this is a neat little lesson in market psychology:Also I think this is what professional traders ultimately mean about buying at the bottom and selling at the top. The bottom is the bottom.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.