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KSMUSDTPERP

KSM/USDT. 💰 #KSM/USDT Daily Timeframe 🐃Bullish structure on Kusama: - Breakout of the Double Bottom on Daily - Bullish Flag below the resistance confluence of 37.70 Supply Zone + Descending Resistance One thing we need to do now is to break through the mentioned resistance conflunce☝️ Full Send if we do so ✈️ BitVero Crypto Academy. Disclamer: We are not financial advisors. The content that we share on this website are for educational purposes and are our own personal opinions.
Long
by Veromento
1
KSM-USDT - LONG FALLING WEDGE***What is the Falling Wedge? .................................. The falling wedge is a bullish pattern. Together with the rising wedge formation, these two create a powerful pattern that signals a change in the trend direction. In general, a falling wedge pattern is considered to be a reversal pattern, although there are examples when it facilitates a continuation of the same trend. This article explains the structure of a falling wedge formation, its importance as well as technical approach to trading this pattern. Where Does the Falling Wedge Occur? The falling wedge pattern occurs when the asset’s price is moving in an overall bullish trend before the price action corrects lower. Within this pull back, two converging trend lines are drawn. The consolidation part ends when the price action bursts through the upper trend line, or wedge’s resistance. One of the key features of the falling wedge pattern is the volume, which decreases as the channel converges. Following the consolidation of the energy within the channel, the buyers are able to shift the balance to their advantage and launch the price action higher. there are three key characteristics of a falling wedge pattern: 1- The price action temporarily trades in a downtrend (the lower highs and lower lows); 2- There are two trend lines (the upper and lower) that are converging; 3- There is a decrease in volume as the channel progresses. The first two elements are mandatory features of falling wedge, while the occurrence of the decreasing volume is very helpful as it adds additional legitimacy and validity to the pattern. It may take you some time to identify a falling wedge that fulfills all three elements. *** What the Falling Wedge Tells Us? ...................................... The falling wedge pattern is a technical formation that signals the end of the consolidation phase that facilitated a pull back lower. As outlined earlier, falling wedges can be both a reversal and continuation pattern. In essence, both continuation and reversal scenarios are inherently bullish. As such, the falling wedge can be explained as the “calm before the storm”. The consolidation phase is used by the buyers to regroup and attract new buying interest, which will be used to defeat the bears and push the price action further higher. Hence, a falling wedge is an important technical formation that signals that the correction, or consolidation, has just ended as the asset’s price left the wedge to the upside and, in most cases, the continuation of the overall trend is taking place. ***Trading the Falling Wedge? ...................................... Paying attention to volume figures is really important at this stage. The continuous trend of a decreasing volume is significant as it tells us that the buyers, who are still in control despite the pull back, are not investing much resources yet A break of the wedge to the upside has to be confirmed by a daily close above the wedge, which is exactly what happens. At this point, you have two opportunities: 1- You enter a trade as soon as the close occurs 2- You wait for a potential pull back for the price action to retest the broken resistance. The first option is more safe as you have no guarantees whether the pull back will occur at all. On the other hand, the second option gives you an entry at a better price. In this case we will go for the option number one. A stop-loss order should be placed within the wedge, near the upper line. Any close within the territory of a wedge invalidates the pattern. Finally, you have to set your take profit order, which is calculated by measuring the distance between the two converging lines when the pattern is formed. This way we got the green vertical line, which is then added to the point where the breakout occured. Thus, the other end of a trend line gives you the exact take-profit level. I will Post Trade When trade is active for me. *****GOOD-LUCK*****
Long
by Mahdicryptodotma-pro