NEARUSDT SHORT (5 TARGETS DONE - Congratulations)Targets:
$2.965 +
$2.934 +
$2.895 +
$2.820 +
$2.759 +
Decline took place strictly according to the designated trading plan!
Nearusdtrading
NEARUSDT 1H SHORTOpened a short position NEAR
Since in the short term, the first signs of a decline are visible. The position was opened at a price of $3.023
Targets:
$2.965
$2.934
$2.895
$2.820
$2.759
Risk management - 1% on stop order
NEARUSD Ahead of another bullish breakout.NEAR Protocol may be overbought on the 1W timeframe (RSI = 80.848, MACD = 0.649, ADX = 57.589) but as it closed three weeks ago a 1W candle over the 1W MA100 for the first time ever, it is approaching the R1 level (6.13750). If broken, we expect the continuation of the rally and our target will be on the completion of a +1,305% rise (TP = 12.55000). The reason is that twice in its short history, NEAR has had this king of rally. Then upon a short-term correction, we expec the All Time High to get tested (TP = 20.000).
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NEARUSD Still inside a Channel Down despite the rise.NEARUSD is having today the strongest 1D green candle since January 14th.
With that, it crossed over the MA50 (1d) for the first time since April 26th.
Despite the positives, it remains inside a long term Channel Down since the start of February and we should treat it as such.
Trading Plan:
1. Sell at the top of the Channel Down.
2. Buy if the price breaks over the Falling Resistance.
Targets:
1. 1.3700 (0.236 Fibonacci level).
2. 2.4000 (Resistance 1 and 0.786 Fibonacci).
Tips:
1. The RSI (1d) has already crossed over its Falling Resistance and reached he highs of April 15th. That might be an early Channel Down bullish breakout sign for the price.
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