$AKE After the previous wave of highs was sold down, it has continued to just hover along below the moving average line. You basically can’t see any sustained rebounds. The short-term structure still remains weak.
$AKE - Empty
Trading plan:
Entry: 0.00888 - 0.00898
Stop Loss (SL): 0.00918
Take Profit 1 (TP1): 0.00872
Take Profit 2 (TP2): 0.00848
Take Profit 3 (TP3): 0.00820
Why short?
Price is under dual pressure from short- and mid-term moving averages. Around 0.00918 there is already a clear resistance. Also, trading volume has remained sluggish, which indicates there isn’t any incremental capital willing to step in and buy. As long as the stop-loss level is not effectively reclaimed with strong volume, this extremely weak structure is highly likely to continue probing lower in line with momentum, testing the support at 0.00872 and possibly going even deeper.
Click here to trade👇
$AKE - Empty
Trading plan:
Entry: 0.00888 - 0.00898
Stop Loss (SL): 0.00918
Take Profit 1 (TP1): 0.00872
Take Profit 2 (TP2): 0.00848
Take Profit 3 (TP3): 0.00820
Why short?
Price is under dual pressure from short- and mid-term moving averages. Around 0.00918 there is already a clear resistance. Also, trading volume has remained sluggish, which indicates there isn’t any incremental capital willing to step in and buy. As long as the stop-loss level is not effectively reclaimed with strong volume, this extremely weak structure is highly likely to continue probing lower in line with momentum, testing the support at 0.00872 and possibly going even deeper.
Click here to trade👇