I think we just loaded enough longs for future growth. This drop was expected. Typical situation when the instrument consolidates in some area and drops just before the growth to push people who are doubting or entered position in a wrong time to close their positions and quit this trade.
There is no actual pattern which will push us higher. But this area 3500-3400 is perfect for reversal.
It is usual for Stellar to reverse after strong drop without any pattern or consolidation.
Also, there is a chance to build H&S on RSI indicator.
I would like to see strong buy and crushing 4000 without any additional consolidation.
What I would not like to see consolidation around 3500-3400.
If we fails to push higher to the previous levels you a free to quit the trade with a low risk.
Remember we want to see some momentum.
If we will not reach 3450 the entry point moves to 3700.
There is no actual pattern which will push us higher. But this area 3500-3400 is perfect for reversal.
It is usual for Stellar to reverse after strong drop without any pattern or consolidation.
Also, there is a chance to build H&S on RSI indicator.
I would like to see strong buy and crushing 4000 without any additional consolidation.
What I would not like to see consolidation around 3500-3400.
If we fails to push higher to the previous levels you a free to quit the trade with a low risk.
Remember we want to see some momentum.
If we will not reach 3450 the entry point moves to 3700.
Kommentera:
We are pushing to the 3300 area. You are free to quit the trade