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Pond

$ZIL Leading $POND// FractalsI've been noticing a pretty successful trader utilize this strategy so I decided to try it out for myself. It'll be best you DYOR on the technicalities of it. Looking at the price action of POND and ZIL, I can personally see a resemblance. This shouldnt lead to a surprise as many tokens bear the same or similar patterns due to their relevance to each other (i.e CAKE & BNB) and also their correlation to bitcoin. Regardless of what ZIL is showing, POND is currently sitting on some pretty strong resistance that has held for sometime now turned strong support. Price has also broken a trend line and we havent had a retest, therefore Im expecting one. Keep in mind, we are in a bull market so I expect price to eventually make its way up regardless; however the opportunity cost is the other tokens which find the volume before POND. Check comments for other charts. Inspo: @cryptokaleo
Long
by N0ST0PL0SS
POND// Falling wedgeNot gonna try to map out swings for this one, just the overall movement. Currently POND has printed a falling wedge, which is a pullback from a bullish impulse, and as price pulls back momentum dwindles to the point there is a reversal back into the trend. Also is we look at the overall visual, some may call this a bull penant.. Price is currently sitting on strong support at 38% and Ill be looking for a break in the Trend line before entering. I usually would wait longer however I have a hunch things will play out in my favor. Regardless I have an exit plan incase things go awry. For those looking for a safer trade, things to look for: 1. After the breakout, no matter how much you want to enter, WAIT for a pullback and reversal signs. 2. Reversal signs - bullish volume, reversal candles, your lagging indicator (lol), bollinger band touch. Reasons not to enter yet: 1. Still within the trendline, no breakout 2. Bearish pattern still, LL - LH 3. Lack of volume currently. 4. It can be said this is a descending triangle aswell and we could have a break below.
by N0ST0PL0SS
GBP/USD sell or buy?In this analysis, first of all we draw trend lines and support and resistance zones, then we track the ponds price which is at the level of the support zone(A) and also is at the floor of the trend Line(Y). So in this case I draw falling trend line(x) which is weaker than trend line(Y) and use it as a guidance. scenario A : If the closed price breaks up the trend (X) with a full body candle, it is more likely to see an uptrend to resistance zone(B). (BUY) scenario B : If the closed price breaks down the trend (Y) and support zone(A) with a full body candle, it is more likely to see a down trend to support zone(C). Also if you look at the chart carefully, a head and shoulder pattern can be seen. Because head and shoulders are reversal patterns and it formed in the resistance zone(B), if the price breaks down the neck line we can expect to see scenario B more than scenario A. (SELL) Caution : This is not a buy or sell signal and all of the risks of trading this idea is on your own.
by salarkamjoo