SMAs and strong support zone:
The price action of Chiliz has broken down all the simple moving averages with the time period of 25 50 100 and 200. Now all the simple moving averages are working as a very strong resistance above the price action of the CHZ token. At the same time, the candlesticks of the Chiliz token also having a death cross formation between 50 and 200 SMAs above them, which is a very strong there is a signal.
But there is a very strong support zone beneath the price action starts from $0.235 and goes to $0.18. The stochastic oscillator is also in the oversold zone, therefore the price action can be reversed towards the upside form here.
Symmetrical triangle:
While the price action is moving above a very strong support zone at the same time the support is being lifted towards the upside and resistance is moving towards the downside. This movement of the support and resistance has formed a symmetrical triangle and the priceline of the CHZ has moved at the end of the triangle and now the triangle is getting squeezed.
Big harmonic bullish BAT:
Previously we had a nice trade of CHZ token.
Now this time on the weekly time frame chart, the price line of CHZ has completed the final leg of bullish BAT . There is also 50 simple moving average support in the buying zone.
The buy and sell targets can be as below:
Buy between: $0.2111 to $0.1177
Sell between: $0.4337 to $0.7678
As per the above targets, this trade has a profit possibility of up to 550%, and the loss possibility is 44% therefore in order to minimize the loss we should use the weekly 50 SMA as stop loss.
Note: Above idea is for educational and entertainment purpose only and not a financial advice. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
The price action of Chiliz has broken down all the simple moving averages with the time period of 25 50 100 and 200. Now all the simple moving averages are working as a very strong resistance above the price action of the CHZ token. At the same time, the candlesticks of the Chiliz token also having a death cross formation between 50 and 200 SMAs above them, which is a very strong there is a signal.
But there is a very strong support zone beneath the price action starts from $0.235 and goes to $0.18. The stochastic oscillator is also in the oversold zone, therefore the price action can be reversed towards the upside form here.
Symmetrical triangle:
While the price action is moving above a very strong support zone at the same time the support is being lifted towards the upside and resistance is moving towards the downside. This movement of the support and resistance has formed a symmetrical triangle and the priceline of the CHZ has moved at the end of the triangle and now the triangle is getting squeezed.
Big harmonic bullish BAT:
Previously we had a nice trade of CHZ token.
Now this time on the weekly time frame chart, the price line of CHZ has completed the final leg of bullish BAT . There is also 50 simple moving average support in the buying zone.
The buy and sell targets can be as below:
Buy between: $0.2111 to $0.1177
Sell between: $0.4337 to $0.7678
As per the above targets, this trade has a profit possibility of up to 550%, and the loss possibility is 44% therefore in order to minimize the loss we should use the weekly 50 SMA as stop loss.
Note: Above idea is for educational and entertainment purpose only and not a financial advice. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
Atif Akbar
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.
Atif Akbar
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.