POND// Falling wedge

Not gonna try to map out swings for this one, just the overall movement. Currently POND has printed a falling wedge, which is a pullback from a bullish impulse, and as price pulls back momentum dwindles to the point there is a reversal back into the trend.

Also is we look at the overall visual, some may call this a bull penant..
Price is currently sitting on strong support at 38% and Ill be looking for a break in the Trend line before entering.

I usually would wait longer however I have a hunch things will play out in my favor. Regardless I have an exit plan incase things go awry.

For those looking for a safer trade, things to look for:
1. After the breakout, no matter how much you want to enter, WAIT for a pullback and reversal signs.

2. Reversal signs - bullish volume, reversal candles, your lagging indicator (lol), bollinger band touch.

Reasons not to enter yet:
1. Still within the trendline, no breakout
2. Bearish pattern still, LL - LH
3. Lack of volume currently.
4. It can be said this is a descending triangle aswell and we could have a break below.

تعليق:

Acutally Imma wait a lil longer, and weigh my options with other coins currently.

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