Hello traders 🐺 .

Yesterday I was searching for an education ideas which was published by the Trading View official account , and in them I found the difference between the log chart and the normal chart , so I decided to use the log chart rather than the normal chart .

This is the @TradingView example :
Let’s say Tesla , back in its early days as a publicly traded company, spiked from $5 per share to $10 per share. That is a 100% move. You would have doubled your money. A few years later, Tesla reached $100 per share and then spiked to $105 per share. That is only a 5% move. Both price moves in this example represent an increase of $5 per share, but one is a much larger percentage change. That’s where log charts come in handy – they show this percentage change! On a normal chart, however, each price level is shown at a fixed distance. So a move from $5 to $10 is shown in the same way as a move from $100 to $105.

I think that this could be helpful for you guys so I decided to explain about that briefly .

Now it’s time to talk about the SAND :

1_ EMA Ribbon :

In the chart above you can see that price is inside the descending channel but the good news is that SAND created a bull flag which is a bullish pattern and if price success to break this pattern the technical target of this flag is around 0.618 Fibonacci at 3.76$ .

But currently SAND is still trading below the EMA Ribbon which is a bearish sign for the SAND but I think if SAND break this flag and finally break the channel after reaching the flag target , SAND comes down again for the retest of the channel and also retesting the EMA Ribbon .

2_RSI and TSI situation :

as you can see , TSI is about to break the zero line and this is a good news for the SAND bulls but not enough for the changing the trend , however it’s good sign and means that long trade could make sense .

in the RSI we haven’t any bullish or bearish divergence , but RSI is about to goes above the midline .

3_ How we can trade it ?

about the possible short term target , we can expect something like above picture , you can open a long trade after breaking the flag pattern , or if you want to be more cautious , you can wait for the break out from the channel and retest it and but at retest , However guys always trade based on your strategy 🙏 .

In my opinion the best thing to do is waiting for the break out from the daily resistance structure , which is also the W pattern neck line , and as you can see , the target of this pattern is around 4.7$ at the weekly resistance (red box) .