QTUM technical analysis

QTUM seen from the temporality of 1D we can observe how the price maintains a movement of (EW), after forming the wave number three, QTUM has entered into accumulation where it has found support within the price range of 4 – 4.1, which is indicated on the graph within a blue rectangle, this structure is forming the wave number four of the current trend, therefore, it is a good time to buy to go for more profits in the fifth wave that I have placed in the price range of 7.6 – 7.9.

QTUM seen from the temporality of 4H we can observe more closely the bullish banderin, a pattern of continuation of the bullish trend, in the graph I have marked the points (ABCDE) that has already formed this setup, currently the candles are consolidating in support forming point E and last of this pattern, we should see the price rise from here to test the resistance of the figure and look for the break up to the rise.

In conclusion, the price is forming a pattern of continuation and the movement has already formed point E, therefore, this is the best time to enter long and take advantage of the next movement of the price, I recommend to be attentive to the movement of the next candles of 4H, the price should not fall beyond 4.8, as this would be causing us an invalidation.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

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About the author: TIMM Trader
Uniting Experts & Novices for Mutual Profit!

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