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Harmonic Patterns

STG/USDT Bearish Outlook: Downtrend Confirmed - Watch Key Levels 📉 STG/USDT is showing a strong bearish trend across multiple timeframes. Following a pullback, the price is under pressure, indicating potential for further downside. This analysis highlights key support/resistance levels, trend directions, and potential trading scenarios. Timeframe Analysis: 5min: 🐻 Price below 20 SMA, RSI < 50, Bearish MACD. Short-term selloff. 30min: 🐻 Price below 20 SMA, RSI < 50, Bearish MACD. Bearish continuation. 1H: 🐻 Price below 20 SMA, RSI < 50, Bearish MACD. Bearish continuation, possible consolidation. Daily: 🐻 Price below 20 SMA, RSI < 50, Bearish MACD. Clear downtrend, potential for further downside. Key Levels: Support: $0.30 (psychological), $0.28, $0.25 Resistance: $0.33, $0.36 Indicators: 20 SMA: Price below on all TFs = Bearish. RSI: < 50 across all TFs, indicating bearish momentum. MACD: Bearish crossovers below zero line across all TFs. Potential Scenarios: Bearish Continuation: Price likely to test lower supports at $0.28 & $0.25. Double Bottom Potential: 4H chart shows potential formation for double bottom, watch for confirmation and neckline breakout. Consolidation: A period of sideways trading may also be seen. Trading Strategy: SELL/HOLD: Recommended to sell or hold positions with stop losses. Short Positions: Consider shorts on rallies to $0.33, stop-loss above. Take Profit: Target $0.28 initially, then $0.25. Stop Loss: For shorts, consider a stop loss above $0.33. Move existing stop losses down to $0.32 or $0.31. Avoid Buying: Downtrend is strong, avoid buying. Risk Management: Monitor for oversold conditions, which doesn't guarantee a reversal. Be cautious of shifts in market sentiment. Keep an eye on overall crypto market correlation. #STG #STGUSDT #Crypto #Trading #TechnicalAnalysis #Bearish #Altcoin #TradingView
Short
by Abdihalim1
Nat Gas Wed 18 DecScript opened with 5% gap on the upside, which was a surprise for awing traders who carried short position on tuesday. It remained irritating till 7 pm. Once the hope of filling the gap vanished it started creeping on the upside but it wasn't enough to cover the losses incurred due to the gap. As always market favoured scalpers. Fluctuations were big enough to make money. Scaling in was a bit tricky though for someone who trades manually cause movements were quick. Overall volume was good, getting orders filled wasn't difficult. Don't carry long positions today. Most of the time market tries to fill the gap of the previous session. See you all tomorrow!
MCX:NATURALGAS1!
by aadityaghate79
3 Altcoins Approaching The Lower Bound!Since you enjoyed my previous post about 3 Altcoins Rejecting the $5 mark! Here's an interesting one about altcoins retesting the lower bound of the wedge pattern: BINANCE:PYTHUSDT PYTH has been in a correction phase and currently approaching the lower bound of its rising wedge pattern marked in blue. As long as the green structure holds, I will be looking for trend-following longs on lower timeframes. KUCOIN:GLQUSDT GLQ has been in a correction phase and currently approaching the lower bound of its rising wedge pattern marked in blue. As long as the green structure holds, I will be looking for trend-following longs on lower timeframes. COINEX:AEROUSDT AERO has been in a correction phase and currently approaching the lower bound of its rising wedge pattern marked in blue. As long as the green structure holds, I will be looking for trend-following longs on lower timeframes. Which altcoins would you like me to cover next? All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
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