Hi there guys! 

Exciting stuff on VENChain over the last few days.

After a wonderful move up, VEN began its profit taking phase and price has retraced to around the 50% fibonacci level.

At this 50% retrace/support level, we also see a BULLISH price action Pin bar. If you look at the square drawn on the picture below we can also see another pattern we use to enter and manage trades.

This is called an inside bar, where we have a strong rejection which we call the ''Mother Candle'' and the proceeding price bars stay inside the range of the mother candle. This shows a level of uncertainty, so the move above or below the mother candle will be explosive! 

With the 50% retrace, the inside bar at support, the bullish pin bar and the bull flag pattern we are bullish on VEN as of now and we're looking for an entry.

FIG 1.  Flag, pin bar and wedge pattern all bullish.
![ven analysis.PNG](https://steemitimages.com/DQmVxgeFRETpv72bg4PZqztymgoJeZpnM9K8Yh5uftqzokw/ven%20analysis.PNG)

FIG 2. Shows in the rectangle drawn, the series of 5-6 bars inside the ''Mother Candle''. This is our inside bar pattern along with the bullish pin bar, which is the candle that begins the inside bar consolidation this time around.

![ven1.PNG](https://steemitimages.com/DQmdgJmwJc2MCGwWZGaXXUm2f5aeDwbCVZXTXcYmQvFZSxG/ven1.PNG)


Happy trading all,

Sam Broye