Sushi Resistance Level for Leveraged Positions

28 Apr 2021

We can see the blue box supporting price as it dipped into it, sending it higher to this resistance level. Purple box indicates a daily resistance level, and we saw an immediate reaction once price reached this area. For a reversal in this trend to occur price would need to break through this level, and possibly dip back into it as support, setting the stage for a repricing higher. I would consider this thesis before opening leveraged long positions.

7 Mei 2021

Nota

Just as expected the purple box showed precise resistance, repriced lower into an area of supported around 12.4-12.9 and then repriced through that resistance. I would like to see a dip back into that purple box, and then continued repricing above the old high at around 19. If we support around there, then the price discovery mission has resumed!