Hello and welcome to episode 23 of TA (Technical Analysis) Today we are diving into The VET Token!
Well, usually when a token is at a key support or makes a strong breakout from a key resistance then we discuss its further direction which will be best for both trading and investing. But VET Token has been trading in the same price range for the last one and a half months, and hence it can be a very good choice for traders because this consolidation price range is also almost 30 per cent.
Though the broader range is around 40%, but a price move of 25 to 30% can be captured with a systematic trade plan. Since this is not a trading advice but this is my analysis based on which I am going to plan the trade in this token. And as I have said earlier, the best strategies don't need to be also the most complicated. Do it in the simplest way that makes sense to you!
Like I have done in the above chart. This is Trading View charting software on Binance in which I have identified the trend using the 'Regression Trend' tool in which the blue side is the overbought zone, the red side is the oversold zone and the red dotted line is the centre in the middle. Knowing all this, buying near support and selling near resistance can be planned. And if the price closes outside your drawn price range, then exit the position. See how simple it is! : )
Upvoted! Thank you for supporting witness @jswit.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It is a great content of VET Token Price action analysis.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you! : )
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit