Chart Pattern Analysis Of MSTZ
https://www.tradingview.com/x/0r5Ly2sp/
From K1 to K3,
It is a bullish three soldiers advancing pattern,
But unfortunately, it still failed to close upon a nearest resistance.
K3 start with a bull gap and break up a downtrend line of a large scale consolidation range.
If the following candles break up the resistance or consolidate around it,
It will be a good place to buy it there.
On the other hand,
If the following candles successfully retest the downtrend line,
It is also a good place to buy it then.
Long-4.75/Stop-4.35/Target-10
From K1 to K3,
It is a bullish three soldiers advancing pattern,
But unfortunately, it still failed to close upon a nearest resistance.
K3 start with a bull gap and break up a downtrend line of a large scale consolidation range.
If the following candles break up the resistance or consolidate around it,
It will be a good place to buy it there.
On the other hand,
If the following candles successfully retest the downtrend line,
It is also a good place to buy it then.
Long-4.75/Stop-4.35/Target-10
Note
It seems that K4 will choose to break up or fall down,
If K4 close upon K2,
Another bull run will start here.
I will try to buy it at about 5USD.
On the other hand,
K4 break below K1,
I will try to buy it from 4USD.
Long-4.75/Stop-4.5/Target-6.2
Note
K4 failed to close upon K3 or the resistance,
The supply pressure sharply increased here.
It is likely that the following candles will fall to test the support or the uptrend line.
I will try to buy it from 4.88-4.5USD.
And, if the following candles test the resistance for more times,
I will try to decrease my long term positions.
Trade closed: stop reached
From K1 to K3,
It is a strong bearish three soldiers advancing pattern,
It break down the uptrend line and touch the neck line of a potential double top pattern.
K4 verified the bearish gap at K3.
It is likely that the following candle will close below the neck line,
And another bear run will accelerate.
I was totally wrong to buy it at about 5USD.
I have too cut loss here.
At the same time,
I will try to buy it at about 3.9-3.7USD area weeks later.
Perhaps that will be the target of the potential double top pattern.
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.
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.