So I just now opened a short on $xcn. Been watching it for a while. Its been stubborn but I think very soon tonight it will start to drop down relatively fast.
Its high on the weekly and daily and still bullish on 4hr and hr however its losing support and creating lower internal highs which tells me its only a matter of time before it runs out of space to move and will have to breakout.
odds are to the downsize especially with btc being bearish its likely to correlate....even though i noticed xcn doesn't correlate much with btc but if the move is big on btc it tends to follow.
Time sensitive
Trade is roughly 3RR down to $0.26 area support
Its high on the weekly and daily and still bullish on 4hr and hr however its losing support and creating lower internal highs which tells me its only a matter of time before it runs out of space to move and will have to breakout.
odds are to the downsize especially with btc being bearish its likely to correlate....even though i noticed xcn doesn't correlate much with btc but if the move is big on btc it tends to follow.
Time sensitive
Trade is roughly 3RR down to $0.26 area support
Note
Scaled into xcn short
Note
Updated XXCN short target
Note
Closed 75% of xcn short
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.