For reference please visit my first published 
FET chart that pretty much ended up being picture perfect:
As we can now see the previous resistance became our new support which is depicted as the green zone .
We might already be looking at a new range (blue) here at roughly ~505sats down to around 495 I'd say as FET is showing good strength after some nice bullish moves in the right direction.
One could also argue we are looking at a cup and handle with possible outbreak scenario. While I'm not a huge fan of patterns the C&H is one of the wider spread ones and mentionable here.
This could also catapult us out of a new formed triangle in which I took the liberty of ignoring a huge wick which I personally put into the "fat finger" department as this can happen on lower volumes. (Although the volume is way up from 2-3days ago!)
If I would want to give the wick recognition this would simply form a channel instead of a triangle.
If the blue range does not play out we should still have the ~470 range (green) as a support/buy zone.
FET chart that pretty much ended up being picture perfect:As we can now see the previous resistance became our new support which is depicted as the green zone .
We might already be looking at a new range (blue) here at roughly ~505sats down to around 495 I'd say as FET is showing good strength after some nice bullish moves in the right direction.
One could also argue we are looking at a cup and handle with possible outbreak scenario. While I'm not a huge fan of patterns the C&H is one of the wider spread ones and mentionable here.
This could also catapult us out of a new formed triangle in which I took the liberty of ignoring a huge wick which I personally put into the "fat finger" department as this can happen on lower volumes. (Although the volume is way up from 2-3days ago!)
If I would want to give the wick recognition this would simply form a channel instead of a triangle.
If the blue range does not play out we should still have the ~470 range (green) as a support/buy zone.
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.