LUA was in a very strong uptrend, but has since seen a 74% decrease from the recent high.
LUA just broke down from a descending triangle and found support at $0.15. This is a key number which has strong confluence with strong daily horizontal support zone, the daily 0.382 Fibonacci, the daily 21EMA, and the 4H 0.618 Fibonacci.
If price loses support at $0.15, then I suspect we'll see a move down to $0.10. There is a lot of confluence for support there. We have the 4H 200EMA and 4H 377EMA, horizontal support and the 4H 0.76 Fibonacci and the daily 0.5 Fibonacci!
Daily stochastics have broken the trend line, but may bounce off the purple horizontal support line. If we saw daily stochastics turn up from that support line, then that would suggest bullish momentum coming in.
Daily RSI has also broken down below the trend line. If the bulls can get a bounce here from the neural zone, and daily stochastics turning up in conjunction, then we could be putting in a lower high on the daily.
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Guide to My Charts
-The purple horizontal lines are support/resistance 'zones'. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!
-Yellow lines are typically used to chart out pattern formations and trend lines!
-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.
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Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
LUA just broke down from a descending triangle and found support at $0.15. This is a key number which has strong confluence with strong daily horizontal support zone, the daily 0.382 Fibonacci, the daily 21EMA, and the 4H 0.618 Fibonacci.
If price loses support at $0.15, then I suspect we'll see a move down to $0.10. There is a lot of confluence for support there. We have the 4H 200EMA and 4H 377EMA, horizontal support and the 4H 0.76 Fibonacci and the daily 0.5 Fibonacci!
Daily stochastics have broken the trend line, but may bounce off the purple horizontal support line. If we saw daily stochastics turn up from that support line, then that would suggest bullish momentum coming in.
Daily RSI has also broken down below the trend line. If the bulls can get a bounce here from the neural zone, and daily stochastics turning up in conjunction, then we could be putting in a lower high on the daily.
---
Guide to My Charts
-The purple horizontal lines are support/resistance 'zones'. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!
-Yellow lines are typically used to chart out pattern formations and trend lines!
-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.
---
Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
