$TRUMP is popular for a while. I see that it swept all liquidation by dropping below the opening price on the Binance listing and there is currently a downtrend breakout on the 4H chart and a positive divergence on the RSI supporting it.
However !...
...it is forming a local accumulation range just under the resistance without making a new Higher High (HH) after the declining resistance breakout and one should be careful.
For a healthy rise, critical resistances should be broken with volume, and then it is healthier to see after such a movement, take a position in its correction.
I do not find it logical to increase risks without seeing a candlestick closing with a candle body above the red box (currently 32.30) and making a new Higher High (HH) because the downside risks are greater.
Because this is one of the formations that I often talk about named PO3, where as a result of accumulation-manipulation-distribution scheme, a fakeout is made upwards, the liquidation above the range (accumulation) is swept away, and then that movement remains as a wick (manipulation) and the downward movement (distribution) continues.
Especially if you see the GAP formed before the Binance listing and not filled, you can realize how big a cliff there is. It should not be forgotten that below 25.5 is a cliff. If you can move by placing a stop loss at suitable levels for you with the confirmation of the trend reversal, how nice.
However !...
...it is forming a local accumulation range just under the resistance without making a new Higher High (HH) after the declining resistance breakout and one should be careful.
For a healthy rise, critical resistances should be broken with volume, and then it is healthier to see after such a movement, take a position in its correction.
I do not find it logical to increase risks without seeing a candlestick closing with a candle body above the red box (currently 32.30) and making a new Higher High (HH) because the downside risks are greater.
Because this is one of the formations that I often talk about named PO3, where as a result of accumulation-manipulation-distribution scheme, a fakeout is made upwards, the liquidation above the range (accumulation) is swept away, and then that movement remains as a wick (manipulation) and the downward movement (distribution) continues.
Especially if you see the GAP formed before the Binance listing and not filled, you can realize how big a cliff there is. It should not be forgotten that below 25.5 is a cliff. If you can move by placing a stop loss at suitable levels for you with the confirmation of the trend reversal, how nice.
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TRUMP
10.76
+1.22%