Kaspa – Short Term correction on LTF
I am uploading early to give you time to consider and prepare.
KAS fulfilled Miller’s (2020) three M.S Principles of a bullish to bearish reversal:
1. The market fails to create a higher high.
2. Price makes a LL (price breaks the X line)
3. Price makes another LH in which B > E.
Final confirmation is only if KAS makes another LL.
I consider this a healthy correction within a bullish trend. As long as Kaspa stays above 0.041, it is bullish on the daily TF. Ideally it won’t retrace lower than 0.062.
Risk Level:
High Risk.
Reasons:
1. Counter trend trade.
2. R: R: to first TP less than 1:3.
3. Final confirmation only if KAS makes another LL.
Trade Idea:
Entry: 0.0833
SL: 0.091
Target: 0.053
TP: 0.066 0.0533
R: R: 1:2.2 to first TP
If you don’t have a position, you can use the demand zone and TPs to accumulate.
KAS fulfilled Miller’s (2020) three M.S Principles of a bullish to bearish reversal:
1. The market fails to create a higher high.
2. Price makes a LL (price breaks the X line)
3. Price makes another LH in which B > E.
Final confirmation is only if KAS makes another LL.
I consider this a healthy correction within a bullish trend. As long as Kaspa stays above 0.041, it is bullish on the daily TF. Ideally it won’t retrace lower than 0.062.
Risk Level:
High Risk.
Reasons:
1. Counter trend trade.
2. R: R: to first TP less than 1:3.
3. Final confirmation only if KAS makes another LL.
Trade Idea:
Entry: 0.0833
SL: 0.091
Target: 0.053
TP: 0.066 0.0533
R: R: 1:2.2 to first TP
If you don’t have a position, you can use the demand zone and TPs to accumulate.
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