$KNC Chart Analysis & Key Observations:
1. Indicators on Chart:
Moving Averages (MA):
MA(7): Yellow - Trending above price, acting as short-term support.
MA(25): Magenta - Lagging, showing intermediate-term support.
MA(99): Purple - Long-term trend indicator.
RSI (6): At 72.3, indicating overbought conditions but a strong uptrend.
MACD: DIF (0.0153), DEA (0.0127), and histogram showing bullish momentum.
2. Volume:
Increasing with the uptrend, confirming buyer interest.
A peak in volume may signal potential short-term exhaustion.
3. Trend Structure:
A sharp upward trend with higher highs and higher lows, indicating bullish dominance.
Current price: $0.6258 with a gain of +10.68% (strong intraday performance).
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Patterns Detected:
Ascending Triangle: Likely present as price consolidates near $0.63 resistance.
Bullish Flag/Pennant: Formation in progress; confirmation needed with a breakout above $0.63.
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Recommendations for Trade Strategies:
1. Scalping (Short-Term):
Entry:
Long: If the price breaks $0.63 resistance with strong volume.
Short: If the price rejects $0.63 and drops below $0.62.
Exit:
Long TP: $0.645 (take partial profits), $0.65.
Short TP: $0.61 (first level), $0.605 (second level).
Stop Loss:
Long: $0.61.
Short: $0.635.
Duration: 5-15 minutes.
2. Intraday (Moderate-Term):
Entry:
Long: Above $0.63 with confirmation (RSI still in overbought zone).
Short: Below $0.61 if selling pressure increases.
Exit:
Long TP: $0.65 (first level), $0.67.
Short TP: $0.59.
Stop Loss:
Long: $0.61.
Short: $0.635.
Duration: 1-4 hours.
3. Long-Term (Swing Trade):
Entry:
Long: If price closes above $0.63 on 4H or daily chart.
Short: If the price closes below $0.59 on higher timeframes.
Exit:
Long TP: $0.70 (major resistance), $0.75.
Short TP: $0.55.
Stop Loss:
Long: $0.59.
Short: $0.63.
Duration: 1-7 days.
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Risk Management:
1. Capital Allocation:
Use only 1-2% of your capital per trade.
Adjust position size according to stop-loss levels.
2. Stop Loss Discipline:
Avoid emotional trading; stick to pre-set stop-loss levels.
3. Hedging:
Use a portion of funds for counter trades or lower exposure during high volatility.
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Disclaimer:
Trading involves risk, and past performance is not indicative of future results. Always conduct your own research and consider consulting a financial advisor before trading. This analysis is for educational purposes only.
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Final Opinion:
Favorable Position:
Long: Upon breakout above $0.63 with volume confirmation.
Short: Below $0.61 with weakening momentum.
Suggested TP/SL:
Long: TP $0.645, SL $0.61.
Short: TP $0.59, SL $0.635.
Overall Market Sentiment:
Bullish bias, but short-term correction is possible due to overbought RSI.
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