VET Broke out of Symmetric Triangle

2021년 5월 7일

Hello everyone! I hope you had a great week and that your weekend is filled with the most amazing fun plans. We have some great weather over here and I plan to enjoy it over trading. :D

But first, lets set our minds at ease!

VET had a great uptrend, 3 or 5 wave system(depends on how you want to view it) and corrected nicely. There was a great DIP to rebuy to further secure trades already in place. Kudo's to those that had the funds to buy on the correction/consolidation dip.

SYM Triangle
We've broke out of the SYM triangle, indicating buyers are ready to buy again and those that wanted out have got out.

MACD
Signals have crossed into a bullish indication. Prior to the cross, my MACD-X indicator filled the background blue in a bearish cross. Future telling sort of as now we've crossed and hope to see red for high volumes.

RSI(VOLX)
RSI has a steeper slope, heading towards overbought.
VOLX is not far behind, indicating that the distribution is there for all the buying.
VOLX has a few options in this indicator, and i have it currently set for Accumulation and Distribution.

STOCH
Looks great! Gap is wide, and slope is steep to the upside.

MAMA
This is on the Candle stick part of the chart. The blue line is just a MA at length 5.
The Red and Green changing line is the Momentum MA. We're Green (Positive momentum) and sloping upward.
Please note that the extension of this PAST the current candle is PAINTED & future predicting. It was flipping between green and red as I wrote. This is normal.

In the news, Elon Musk is hosting SNL. He's most likely going to mention Cryptocurrency and I expect a skit on the topic. Maybe even DOGE specific. Might see some unexpected results because of this, and I personally believe they will be positive for all of Crypto.

Please note that I have my monitor in Portrait mode(4K 27"), if my chart looks horrible on your screen. I totally recommend(if you can) rotating your monitor to view charts. It's extremely helpful.

Patience is key, don't let FOMO get the best of you. Enjoy the rest of your day fellow traders!BINANCEUS:VETUSD