Tradesignals
VECHAIN, SCALP OPPORTUNITY or DESTINED for DOOM?VECHAIN showing bull div on the 12 HR
Notice how we have come completely outside the developing VA, this can mean one of two things - either strong downwards movement coming, or a bounce back into the VA.
Expecting a bounce to the significant resistance level at the 0.618 fib line, which coincides with the downtrend line and the first HVN of the value area.
We need to observe the price action at this level closely to see if we will continue the bear trend, if so then we buy at the demand zone at 127 sats.
BCC and waiting for Second Biggest moveAs shown in chart BCC Formin Bullish pennants, just like its name suggests, signals that bulls are about to go a-charging’ again.
This means that the sharp climb in price would resume after that brief period of consolidation, when bulls gather enough energy to take the price higher again.
To play this, we’d place our long order above the pennant and our stop below the bottom of the pennant to avoid fakeouts.
Like we discussed earlier, the size of the breakout move is around the height of the mast (or the size of the earlier move)
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GOLD SETUP - IT COULD GO EITHER WAYGold is on a trend downwards in other words bearish but it has a lot of room upwards as well to mean bullish. With that said, I have drafted how I see it going as you can follow on the chart above.
My believe is it will continue with the trend downwards if it respects the resistance lines. If it breaks them then we go bullish. If it respects them then we continue bearish and we have a lot of room downwards as well.
Remember to trade with good risk management and respect the market with realistic expectations.
As I always say, your management of your expectations may as well be the only key you need to find your success in this industry.
Good luck.