Vet vs USD - abandon ship

This weekly chart shows price action is overbought and starting to correct. The candle stick patterns 'spinning top' represent buyer / seller indecision/ This tells us neither buyers or sellers are knowing which direction to go. The bears have clearly taken control following this overbought period.

Trade active

Bulls got clobbered on last push up. Weekly stochastic crosses down 80 following RSI leaving the overbought condition (green column). Last chance to take profits.

Note

-40% collapse, price action now on the golden ratio (0.618).

Will it go lower? That is possible.

Is it probable? Yes. RSI resistance is holding and is suggested to continue until around mid-November.

Note

Going to close this one now. The probability of downside remains however it is becoming less and less. So if you're shorting, it's time to collect profits!

Is a reversal now coming? Price action is nearing the 21-week EMA (green line), it is not far away.

Trade closed: target reached

Note

Can't be bother writing a new idea but VET is looking tasty right now.

without_worries

BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy

Weblink: patreon.com/withoutworries

Allow 3-6 months on ideas. Not investment advice. DYOR

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without_worries

BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy

Weblink: patreon.com/withoutworries

Allow 3-6 months on ideas. Not investment advice. DYOR

Also on: