TNT approaching critical Support

٢٥ مارس ٢٠٢١

TNT is playing out quite nicely if you follow Fibs. After a fantastic run up, topping out at 44c, has retraced right back to the 61.8 beautifully.
Unfortunately i missed the opportunity to pick them up at 21.5c, however, after a bounce off the 61.8 and rejection off the 38.2 fibs level from the run up, is now re-approaching the 61.8 level again, potentially creating a double bottom to reverse off.

I personally am looking to load up at 21.5c if this level can hold and form a good Support level here.

I will watch to see what happens as it approaches this level, as a breakdown from this key level could fall considerably more.

Thoughts and discussion always welcome.

٨ أبريل ٢٠٢١

ملاحظة

Buggered up my Money Management for this trade and am forced to have my entry at 22c. TNT continues to drop slowly. I do believe the 21.5c Support will hold and as this is a long term hold for me, I am happy to enter here.

I am confident there will be a push or consolidation between 24.5c and 21.5c before Market Structure shows a change.

For now, I wait on the sidelines for my buy to fill.

١٦ أبريل ٢٠٢١

ملاحظة

TNT has remained in a consolidation area for a couple of weeks now. I believe we are in an accumulation period and should see a break to the upside shortly. I have a feeling price is being suppressed due to some big buys coming into the market, yet price not reflecting this yet.

Definitely one I'm looking to get in and stay in.

Update: I had been hoping to get in at 21.5c, however I was not confident it would touch that area before a possible run.

I am ok with this as my goal is not to catch the bottom, but accumulate while the price is in a key zone as this will be a long-term hold for me.