AVAX / TetherUSLong
AVAX / USDT High Tight Flag
AVAX has made a massive 180% in 5 weeks. Surfing the 10 day EMA. Hitting resistance at $23 and pulling back 23%. Forming a HTF.
O'Neil tells us that in order to form a HTF a security must double in less than 8 week and pull back no more than 25%.
Qullamaggie tells us a security must move 30 - 100%+ for a few weeks, then form an orderly pullback, with higher lows during the consolidation period.
My observations - large volume two weeks ago. I see resistance at $23, support at $17.50 with my next main resistance area at $47.50. This leaves a huge void with little resistancebetween $23 and $46. A shakeout within the HTF to $17.50 is acceptable but any daily close below $17.50 invalidates the HTF.
I'm looking for a HTF range breakout with a daily close above £23. With a target of 100% at $46. Monitoring the 10/20EMA and 50MA as stop losses.
O'Neil tells us that in order to form a HTF a security must double in less than 8 week and pull back no more than 25%.
Qullamaggie tells us a security must move 30 - 100%+ for a few weeks, then form an orderly pullback, with higher lows during the consolidation period.
My observations - large volume two weeks ago. I see resistance at $23, support at $17.50 with my next main resistance area at $47.50. This leaves a huge void with little resistancebetween $23 and $46. A shakeout within the HTF to $17.50 is acceptable but any daily close below $17.50 invalidates the HTF.
I'm looking for a HTF range breakout with a daily close above £23. With a target of 100% at $46. Monitoring the 10/20EMA and 50MA as stop losses.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.