KNCUSDT broke below its ascending channel , indicating a potential shift in the market trend. This move also tested the support level , which has held up so far, but the market is waiting for a breakout to confirm the direction of the trend.
Applying Plancton's Rules, a set of trading guidelines, may be helpful in evaluating the potential for a new short position. These rules include considering the context of the market, looking for confirmation of a trend change, and setting stop loss orders to manage risk.
Given the recent price action, a short position on KNCUSDT may be considered if the support level is broken, and the market confirms a downtrend. –––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <= 1h structure.
Follow the Shrimp 🦐
Applying Plancton's Rules, a set of trading guidelines, may be helpful in evaluating the potential for a new short position. These rules include considering the context of the market, looking for confirmation of a trend change, and setting stop loss orders to manage risk.
Given the recent price action, a short position on KNCUSDT may be considered if the support level is broken, and the market confirms a downtrend. –––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <= 1h structure.
Follow the Shrimp 🦐
Nota
8% Nota
10% Nota
13% Nota
14% Nota
25% 
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.