Today’s candle may be disappointing to some people, and I get it, but today I’m going to tell you why this is not such a big deal, and what to do in front of this situation. First, I invite you to follow me, I’m every day here keeping you updated of our trades and analyses. Also, follow me on Twitter, because you may find something interesting over there too!
If we look at the daily chart, it may look bad, but that’s ok. If you are a bull you should expect for some pullback or sideways movement, because that’s the fuel the market needs to engage in a trend. Look at the hourly chart:
The price is trading between the blue and the light blue lines, and this sideway movement means nothing more than “balance”. The same is applied when you see a Doji in the chart, a Doji = Balance, is the dance between bulls and bears, just testing each other. The next move will happen soon, and one of these lines will be lost. In my view, XTZ will seek the black line again, instead of the red line.
Trading is a continuous war, filled with a lot of battles. This moment right now, is the “calm before the battle”. We’ll see each other again tomorrow.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
If we look at the daily chart, it may look bad, but that’s ok. If you are a bull you should expect for some pullback or sideways movement, because that’s the fuel the market needs to engage in a trend. Look at the hourly chart:
The price is trading between the blue and the light blue lines, and this sideway movement means nothing more than “balance”. The same is applied when you see a Doji in the chart, a Doji = Balance, is the dance between bulls and bears, just testing each other. The next move will happen soon, and one of these lines will be lost. In my view, XTZ will seek the black line again, instead of the red line.
Trading is a continuous war, filled with a lot of battles. This moment right now, is the “calm before the battle”. We’ll see each other again tomorrow.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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