The AIN strategy shared earlier has now successfully moved into profitable territory. The final act is in sync with the divergence, and the four-hour chart for $ACE is signaling a bearish bias. Price is holding below EMA50 and EMA200, with the moving averages aligned bearishly and the swing trend clearly pointing down. Sellers are still in control. Each rebound has come with weaker volume, while the moving-average band overhead is acting as resistance. Given this structure, I’m more inclined to follow the trend and look for a pullback than to try to call a bottom.
Keep in mind that a stronger broader market could lift it along with the rest, as its correlation is fairly high. So keep position sizes in check, and don’t mistake a rebound for a trend reversal. As long as the key level holds, the bearish thesis remains valid.
🔴 Trade direction: Short
📍 Entry range: 0.131620 – 0.131984
🛑 Stop loss: 0.135736
🎯 Take profit 1: 0.128852
🎯 Take profit 2: 0.126885
🎯 Take profit 3: 0.123934
Take in the vastness of mountains and seas; observe the market’s subtle shifts.
Trade alongside Uncle Xiong and witness the gains and losses of the world.
#ACE
Click below to trade 👇
Keep in mind that a stronger broader market could lift it along with the rest, as its correlation is fairly high. So keep position sizes in check, and don’t mistake a rebound for a trend reversal. As long as the key level holds, the bearish thesis remains valid.
🔴 Trade direction: Short
📍 Entry range: 0.131620 – 0.131984
🛑 Stop loss: 0.135736
🎯 Take profit 1: 0.128852
🎯 Take profit 2: 0.126885
🎯 Take profit 3: 0.123934
Take in the vastness of mountains and seas; observe the market’s subtle shifts.
Trade alongside Uncle Xiong and witness the gains and losses of the world.
#ACE
Click below to trade 👇