CHZ has been in a descending wedge for around 3 weeks now following a large breakout. Wait for a breakout of the descending wedge and make sure it finds support on the Fibonacci line before confirming the breakout. From there, we can expect a bullish run for CHZ following news in April about gaming releases and other positive news.
Entry: ~0.565
Stop loss: ~0.51 (Make sure to see ATR at that point of time)
Take profit zone 1: ~0.672
Take profit zone 2: ~0.878 (or hodl)
Entry: ~0.565
Stop loss: ~0.51 (Make sure to see ATR at that point of time)
Take profit zone 1: ~0.672
Take profit zone 2: ~0.878 (or hodl)
Note
Selling pressure on CHZ is simply too strong right now... will have to wait a while for the breakout.Note
Giant up candle breakout from the descending wedge (: Now we'll see it can find support at around the $0.52 - $0.53 level to confirm the breakout.Note
Bounced off the $0.51-$0.52 resistance... back into the wedge. Waiting for next breakout.Note
CHZ remains in the wedge for a while longer. Will have to wait for a clearer price signal to enter.Note
CHZ breakout of wedge, now retesting support, would be good to DCA in.
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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.