$HUYA - an odd chart that is marked by two polarities
This chart is an odd one as it's entirely defined by two ranges - a zone where price is constantly sold off, a zone where it's guaranteed to buy back, and a few levels in the middle that I wouldn't necessarily trust as either support or resistance, which seem to merely be reaction points.
Two conditions I might get into this:
- A convincing exit from the resistance zone with volume
- A re-entry into the support zone
Until one of those things were to happen, it's a weird one and not sure how you'd trade it, other than going beyond what I am doing here, maybe doing more PA.
I keep things simple. I am bullish bias on e-sports so would like to monitor this one for a long-term hold.
Two conditions I might get into this:
- A convincing exit from the resistance zone with volume
- A re-entry into the support zone
Until one of those things were to happen, it's a weird one and not sure how you'd trade it, other than going beyond what I am doing here, maybe doing more PA.
I keep things simple. I am bullish bias on e-sports so would like to monitor this one for a long-term hold.
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