SAND Profit Taking took 41% Off the Top
SAND is a sneaky little token. Above is the chart of SAND we showed you on November 1st. Below is the Chart for tonight – November 12th. The idea was a secondary leg after a very strong move. The idea worked out and it went for over 100% in 3-das, tagged all three of our resistance levels, created an ATH, and then went on to die for a week as it shed 40% from its ATH.
The point is this:
Now, we could end this article right there and leave it at that but I got a little bit more to say about our friend SAND over here. So let’s begin.
What Could be Next for SAND?
Does the picture above look familiar? It should. It’s virtually the same move from two weeks ago but on the Daily resolution as opposed the the H4 resolution. Trading can sometimes be like inception. A pattern within a pattern within a pattern. The difference is TIMEFRAME.
A Move like this is not for the faint of heart as it would add another 134% to the local low to reach a target near $4.77.
Moves like this are always risky as we have just put in a new ATH. For that, we look to the picture below us and we can see that we are currently trading on the 618 of the local pullback. This is the first major hurdle to cross and that will we followed by the next major hurdle – the new ATH.
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