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VIP MARKET UPDATE: $SUI โโโโโโโ $SUI has rebounded strongly from the DEMAND zone, confirming solid buying interest at lower levels.
A successful breakout could drive price toward $2.60โ$2.80. However, if it fails to hold the SUPPORT, price may revisit $1.60โ$1.65. โโโโโโโ
#WLD is currently trading within a descending channel on the 12H timeframe. Itโs now facing a resistance cluster that includes the channel resistance, the 12H SMA50, and the Ichimoku cloud. You may consider buying a small position around the current level and near the support zones at:
๐ฐ $0.752 ๐ฐ $0.710 ๐ฐ $0.653
In case of a breakout above the resistance cluster, the potential upside targets are:
As you CAN see price has reached the long term descending trendline and a strong resistant zone. ๐ด
For this reason it may get rejected eventually in order to come down to finish its Accumulation phase and gather enough buyers to start a stronger cycle upwards. ๐๐
And that's where our two highlighted pullback scenarios with new entries and targets come to play to add this coin to our bags for huge profit. ๐ฐ
#TRB is currently trading within a descending channel on the daily chart. In case of a breakout above the daily SMA50 and the channel resistance, the potential upside targets are:
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VET is rebounding from the support trendline of the falling wedge pattern, indicating renewed buying interest at lower levels. However, the 21MA is currently acting a resistance barrier.
A decisive breakout above both the wedge structure and the 21MA would confirm bullish strength and could trigger a strong upward rally. This setup is worth monitoring closely for a confirmed breakout.
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The Abandoned Child is a reversal pattern. Like all reversal patterns in technical analysis, the Abandoned Child reverses the current trend, regardless of its direction. The Abandoned Child depicts a lonely, abandoned small Japanese Doji candlestick, which is where the name comes from.
Characteristics of the figure Abandoned Child:
The abandoned child is a reversal figure. Like all reversal patterns in technical analysis, the abandoned child reverses the current trend, regardless of its direction.
The Abandoned Child consists of three candles, the middle of which is necessarily a doji, and on the sides - long candles of different colours, while the price wraps around the arc, and the shadows of any two neighbouring candles are separated by a window.
In more detail, the Abandoned Child consists of candles with the following parameters:
- Long white candle: the first candle in the pattern should be relatively long; - Doji, through the window: there should be a noticeable window (gap) between the shadows of the first candle (long white candle) and the second candle (doji); - Long black, through the window: there should be a noticeable window between the shadows of the doji and the third candle;
Bullish and Bearish "Abandoned Child".
It is important to note that the above-mentioned figure is only one type of abandoned child, namely a bearish abandoned child, because the price falls after the end of the figure. If the figure is inverted, it is called a bullish abandoned child, and consists, respectively, of a long black, a doji through the gap, and a long white through the gap. Applied meaning of the figure After the formation of the figure, you should wait for about 2 more candles to confirm the trend reversal, and then act. If the figure has broken an important long trend with the third candle, the validity of the figure increases and it is not necessary to wait.