Technical Analysis
1. Trend Analysis
overall Downtrend
2. Indicator Analysis
SMA 5, 10 on daily is too far away from trending, will result in possible retracement (bearish until retracement)
William %R shows its very overbought.
Volume-> sudden surge in volume could result in great pump and dump
3. Trendline Analysis
Broke above (Teal ) trendline ( Bullish)
Resistance at (green) Trendline ( Neutral)
4. False breakout possibility
An indicator would be in the red circular circle @ Mid nov 2017 would be a rough gauge and projected forward for additional allowance of false breakout .. key level would be at 0.070 ~ 0.071
5. Candlestick analysis (weekly)
Three white(green) soldiers indicating good strength and momentum therefore weekly closing would be very important to see if a break is possible
Trading Plan
I would be expecting Jiutian to fall back for retracement at the teal trendline which also happen to be 0.382 FIB @ 0.029 Pricing then forming a greater upward to test the key level of resistance 0.070-0.071
Entry: 0.029 for re-test of teal trendline
SL: 0.016 pre-breakout level
TP: Start trailing your TP towards 0.070- 0.071
It may hit and have a strong selling
1. Trend Analysis
overall Downtrend
2. Indicator Analysis
SMA 5, 10 on daily is too far away from trending, will result in possible retracement (bearish until retracement)
William %R shows its very overbought.
Volume-> sudden surge in volume could result in great pump and dump
3. Trendline Analysis
Broke above (Teal ) trendline ( Bullish)
Resistance at (green) Trendline ( Neutral)
4. False breakout possibility
An indicator would be in the red circular circle @ Mid nov 2017 would be a rough gauge and projected forward for additional allowance of false breakout .. key level would be at 0.070 ~ 0.071
5. Candlestick analysis (weekly)
Three white(green) soldiers indicating good strength and momentum therefore weekly closing would be very important to see if a break is possible
Trading Plan
I would be expecting Jiutian to fall back for retracement at the teal trendline which also happen to be 0.382 FIB @ 0.029 Pricing then forming a greater upward to test the key level of resistance 0.070-0.071
Entry: 0.029 for re-test of teal trendline
SL: 0.016 pre-breakout level
TP: Start trailing your TP towards 0.070- 0.071
It may hit and have a strong selling