by Seth Parker on July 10th, 2018

Augur (REP) Analysis – Third pattern in a row

Second hero of the day will be a newbie – Augur, so this will be the first time that we will be writing a piece about this crypto. Movements here are rapid and volatile. Candle Chart has a lot of gaps and is not very smooth. Despite that, price swings are pretty technical and in the past few weeks, REP created three technical patterns!

First one was the head and shoulders pattern (yellow), which was a bearish pattern and the breakout of the neckline, gave us a sell signal. Second one was a very technical flag (blue lines), which was a perfect trend continuation pattern and resulted in a further downswing. The last one, third, was also a flag but slightly bigger (black lines). No surprise here too and the price broke the lower line of this pattern and aimed lower.

Augur Chart

Breakout of the lower line of the flag, gave us a fresh sell signal and this is our outlook on this altcoin. Negative signal will be cancelled, when the price will come back above the highs from the beginning of June.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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