Link: Is the downside finish or can we expect more?
Chainlink saw a 157% rise in one month after the recent lows around 1.34, currently we are seeing the first good rejection what to expect for the rest of the day?
cdn.discordapp.com/a.../20200411_165925.jpg
1. Head & Shoulders
A pattern that you love or you hate, nonetheless currently we saw the full pattern + the breakout. One of the rules is that the price should dump the same amount that it pumps for the Head pattern. This means that we can expect a dump of at least 6 -8% here.
2. The levels
Currently the levels of support to look at are:
- 3.10
- 3.00
We already saw a breakdown of 3.10 and the re-test just occurred. I assume now that next is 3.00$
3. Higher time-frame
Currently on a higher time-frame we can see that 3.49 was a big resistance and we got rejected, if we play this level by level there is a good possibility of seeing a full retrace to the 2.46 area before further continuation.
The call for the scalp was given in my discord group (Link down below) and i'm about to post the swing trade short now, feel free to join us!
cdn.discordapp.com/a.../20200411_165925.jpg
1. Head & Shoulders
A pattern that you love or you hate, nonetheless currently we saw the full pattern + the breakout. One of the rules is that the price should dump the same amount that it pumps for the Head pattern. This means that we can expect a dump of at least 6 -8% here.
2. The levels
Currently the levels of support to look at are:
- 3.10
- 3.00
We already saw a breakdown of 3.10 and the re-test just occurred. I assume now that next is 3.00$
3. Higher time-frame
Currently on a higher time-frame we can see that 3.49 was a big resistance and we got rejected, if we play this level by level there is a good possibility of seeing a full retrace to the 2.46 area before further continuation.
The call for the scalp was given in my discord group (Link down below) and i'm about to post the swing trade short now, feel free to join us!