On the Daily Chart, Wanchain has shown a buy signal after 9 consecutive candles going lower than its previous 4. However, we must note that this signal also showed up on 5/13. It resulted in a hammer candle stick but eventually ended up rolling over and losing another 25%.
However, I find this situation a little more optimistic in a rebound. Not only are we about to hit the .382 level and also previous support zone of .0006169 - 0.0006348.
I will be looking for a buy at/around that support zone and of course, with a tight stop loss if we break .0006. My target is for at least a 1-4 day correction - hopefully also coinciding with a retracement to the .5 or .618 level.
*THIS IS NOT FINANCIAL ADVICE*
However, I find this situation a little more optimistic in a rebound. Not only are we about to hit the .382 level and also previous support zone of .0006169 - 0.0006348.
I will be looking for a buy at/around that support zone and of course, with a tight stop loss if we break .0006. My target is for at least a 1-4 day correction - hopefully also coinciding with a retracement to the .5 or .618 level.
*THIS IS NOT FINANCIAL ADVICE*