My dear fellow lunatics, today I chart a LUNAUSDT...
LUNAUSDT Weekly Chart
The upward trendline I drew from last year on LUNAUSDT weekly chart have been defended few times and last week the upward trendline have been test again and managed to be defended again.
So what does this price action tell me? These are some of the probability of what happened. The upward trendline area/level have many demand/buyers placed their orders, got absorbed the moment the price reach there, whale market bought and currently it is forming a bullish engulfing candle.
The bullish engulfing candle haven't 100% confirm because the weekly candle not yet close, need to wait until the candle close to confirm. Also there was a completed bearish divergence, has the bearish divergence play out? in my humble opinion, I do think that the bearish divergence had played out.
LUNAUSDT 2 Days Chart
On the 2 days chart, I marked the support and resistance using horizontal ray. Green being the support area and pink being the resistance LUNA need to reclaim. The money flow on the 2 days is still green however it's getting thinner with the VWAP just crossed the zero line, the momentum formed a trigger wave with a high DBSI number. Probability of LUNA will be going higher to test the resistance area in my opinion.
LUNAUSDT 4 Hour Chart
The momentum waves is crossed above the zero line indicated that it increasing strength toward the overbought area with a green money flow however VWAP is still below the zero line. Will need to wait another few 4 hour candles to see if the VWAP is crossing up or staying flat below the 0 line.
LUNAUSDT 5 Minutes Chart
The red money flow curving up toward the zero line into green money flow with trigger waves getting decreasing momentum at the oversold area, formed trigger waves with VWAP crossed the zero lines. Bear in mind that this is a 5 minutes chart therefore scalping trade it is and keep the stop loss tight!
I hope you all going to have a fabulous weekend!
Trading is risky! Leverage trading without first understanding how to trade on spot even riskier. But... you can try "Paper Trading" (Using fake money trading on a Live Chart) on www.tradingview.com before go for Live Trading using real money.
This is just my way of interpretation of LUNAUSDT chart in different time frame, 1000% not financial advice.
Posted Using LeoFinance Beta
:) Aloha! I saw u on my recent trade post so I thought i'd say thanks. Ahhhh, do u also trade or just like to chart? Did this one finally drop or what happened with it?