Sand is incredibly bearish. There is nothing about this chart that suggests this asset will gain value any time soon.
Reasons why it's bearish
- In a downward channel for over 2 months with no threat of breaking it.
- Just broke 80c support and backtested it as resistance.
- Both the RSI and MACD look set for negative growth.
The short will be active until the channel is broken to the upside and it leads to a break back above 80c and holds it as support.
I will not exit the trade if the SL hits unless I see this^.
Reasons why it's bearish
- In a downward channel for over 2 months with no threat of breaking it.
- Just broke 80c support and backtested it as resistance.
- Both the RSI and MACD look set for negative growth.
The short will be active until the channel is broken to the upside and it leads to a break back above 80c and holds it as support.
I will not exit the trade if the SL hits unless I see this^.
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.