ONE did leave the falling wedge indicated by the yellow lines. Currently we see a consolidation into a triangle drawn with the violet lines. ONE found support twice around the 0.055 line and marks kind of a double bottom which on its own is a good trend reversal sign. The volume however is still decreasing which is fine for a consolidation. Once we break out of the triangle we expect a volume spike. The RSI of the daily chart on the left hand side shows bullish signs with a higher low indicated by the yellow line.
So for now we watch and are prepared for an upwards breakout.
Basic rules: - Never buy the top/ATH - Take profit as long as you can (also partial profit is profit) - Use Stop/loss for leveraged positions - If you are not experienced, don't leverage in the first place
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ps. Chart explanation: Main lines: - Green lines are tested support lines. - Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet. - Cyan line is for volume trendline. - White lines are Fibonacci retracement levels Helplines: - Purple lines are trendlines we take a look at. - Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA. - Yellow lines are for visual help only. Boxes: - Either entry zone or support zone. Check the description.
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