NULS Weekly Analysis 8/27/18
Updated
Welcome! I've been learning/praciting technical analysis for awhile now and have recently learned a lot about price action. I plan to publish my thoughts at least once a week. My goal is to practice, improve, learn and hopefully share some knowledge with the community. Please feel free to challenge and question me (respectfully). This is also not financial advice in anyway and is meant for entertainment. PSA: Don't look for advice from random people online- learn and create your own ideas for trades!
4H:
NULS has looked like it may turn things around recently. It is making a series of higher lows on the 4H chart. It broke above a 3D bearish order block and is consolidating above it now. I think this resistance will become support and I like a break to the upside to occur.
Trade:
I'm long already but I like this trade. I think NULS can break through the order block overhead because it has already been tested 3 times. I think supply is weakening and a run higher could occur.
4H:
NULS has looked like it may turn things around recently. It is making a series of higher lows on the 4H chart. It broke above a 3D bearish order block and is consolidating above it now. I think this resistance will become support and I like a break to the upside to occur.
Trade:
I'm long already but I like this trade. I think NULS can break through the order block overhead because it has already been tested 3 times. I think supply is weakening and a run higher could occur.
Note
Looks good still from a support perspective: Note
Noticed we have some clean highs that could be run: Adds to the idea that NULS should be able to break upwards here.
Note
There it is, highs were taken out! I do see a swing failure pattern here and it has pulled back. I'm hoping it creates a higher low around 0.00025 and continues through. It did print a close in upper half of the resistance block on the 4H which is bullish and this is 3rd/4th test of this area. Tough to say what will happen with BTC showing a little weakness but I could see it going higher here. If 0.00025 breaks and BTC looks weak I may sell and buy back lower at previous support.
Note
Might see a support/resistance flip here. Bounced off a bit off 1H level. Looking to see how a retest of the prior support above goes.
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