Namaste everyone.
From the looks of it AXS has hit the bottom of the dump which was predicted earlier: 👍
It looks ready for higher prices again.
It broke out of its down trend and just broke above 25 SMA.
Aside from what the volume profile is indicating, the areas marked in purple are areas I expect to meet "turbulence". ;-)
Making sure a stop loss order is in place is a must.
As always this information is strictly for educational and research purposes only.
From the looks of it AXS has hit the bottom of the dump which was predicted earlier: 👍
It looks ready for higher prices again.
It broke out of its down trend and just broke above 25 SMA.
Aside from what the volume profile is indicating, the areas marked in purple are areas I expect to meet "turbulence". ;-)
Making sure a stop loss order is in place is a must.
As always this information is strictly for educational and research purposes only.
Note
WOW!It looks like the bears are still in control.
It broke below the 25 SMA, the 200 SMA and the support line.
If the price doesn't recover back up soon then more drop could be expected.
Note
It broke above down trend but it is not out of trouble yet.If it holds then it will recover and proceed for higher prices.
Trade closed: stop reached
It looks like it closed below a major down trend in the 1H TF.It is currently sitting just above the 200 SMA but if that breaks too then more dump can be expected so shorting it seems like a good idea to me to increase the base asset.
If it recovers above the trend line then we could get back on track.
I doubt it is going to recover now though but who knows.
Note
The 117.5 and 112.5 levels seem like a good re-entry point to me.Note
Close below 200 SMA. I expect more dump.
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Related publications
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.