Hello Traders !
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- As we are trading SLP on 1D time chart we can see clearly the falling wedge pattern which started around 14 July creating lower lows and lower highs with a contracting range, also since we find that pattern in an downtrend we can positively speak about a potential bullish reversal ( downtrend is loosing momentum.
- Starting 19 September SLP price is acting inside a sideways trend ( consolidation phase trading within limited price ranges) , buyers are accumulating in this phase around 0.065$ ( support zone )and will try to push price forward above 0.10$.
-Volume is seeing more buying pressure and less selling pressure which indicate a positive sign for SLP .
- RSI is making his away above oversold zone 40>
- Stochastic is in oversold zone preparing for a bounce off.
- I am overall bullish despite AXS 800 MMR updates
Entry Position : 0.065$
S/L Position : 0.058$
TP1: 0.100$ TP2: 0.1350$ TP3 : 0.1700$ TP4: 0.200$
Good luck traders!
Please support this idea with a LIKE if you find it useful.
- As we are trading SLP on 1D time chart we can see clearly the falling wedge pattern which started around 14 July creating lower lows and lower highs with a contracting range, also since we find that pattern in an downtrend we can positively speak about a potential bullish reversal ( downtrend is loosing momentum.
- Starting 19 September SLP price is acting inside a sideways trend ( consolidation phase trading within limited price ranges) , buyers are accumulating in this phase around 0.065$ ( support zone )and will try to push price forward above 0.10$.
-Volume is seeing more buying pressure and less selling pressure which indicate a positive sign for SLP .
- RSI is making his away above oversold zone 40>
- Stochastic is in oversold zone preparing for a bounce off.
- I am overall bullish despite AXS 800 MMR updates
Entry Position : 0.065$
S/L Position : 0.058$
TP1: 0.100$ TP2: 0.1350$ TP3 : 0.1700$ TP4: 0.200$
Good luck traders!