NOT has given a signal of a stable uptrend on the 12-hour TF.
Yesterday, when analyzing the token chart, we wrote that the asset gives reversal signals on the weekly TF. For the first time in the history of the chart, and this is important. And such daily signals, alas, have broken three times before today during the current summer-autumn downtrend.
Since yesterday's analysis, the asset at its peak gave +14.4%.
Now the key thing for the bulls is to break through the EMA 50 of the daily TF (currently $0.009119) and consolidate higher.
Yesterday, P73 Trend & Target Dynamics set an alert for a signal of a stable uptrend on the 12-hour and daily TF. Today, the 12-hour worked. And although the closed candle almost worked out the first target, almost reached the second and closed with a bearish shadow, it is not worth writing off the growth prospects within the basic setup.
Basic setup:
- Basic Target 1 - 0,008462$
- Basic Target 2 - 0,008907$
- Basic Target 3 - 0,009352$
- Basic Stop Loss - 0,007445$
The risk-reward ratio is almost 1/1. But, as already written, the basic setups P73 Trend & Target Dynamics do not work for risk management. They show a stable trend and targets, where the price will definitely go if the trend is true. And also a stop loss, upon reaching which there is a high probability that the trend is false.
A small number of basic setups with a risk-reward of 1/3 is compensated by the development of true stable trends from the indicator. Thus, the short signal on July 24 on this TF gave a net movement of -38% in the first 11 days of development. And this was not the maximum.
Returning to the current situation with#NOT- let's follow the basic setup and wait for a confirmation signal on the daily TF. EMA 50 of the daily TF is also very important, as we wrote at the very beginning.
BUT the signal this week hints that the change in the stable trend is true and we may not average our position anymore. Unless a long squeeze comes. Let's see how the week closes. The bullish candle may form a "Morning Star".
The goal of the movement, which is still receiving confirmation, remains the same for us - a new ATH for the asset.
