I see an overall bullish momentum building up on this pair.
My indications of bullish movement:
Entering:
Always a personal preference, I assumed the RED levels are where it best to react.
Exiting:
Again, personal preference, although if unsure I would look towards the YELLOW levels.
Indicator located at the bottom:
I use this to see what price is doing and viewing in a line-chart if you will, and although price has crossed underneath the aqua line I am wanting to stay bullish.
Usually I wouldn't and would instead look for the opposite setup - but let's see how this plays out.
My indications of bullish movement:
- Higher Lows/Highs being created
- Support being shown on trendline
Entering:
Always a personal preference, I assumed the RED levels are where it best to react.
Exiting:
Again, personal preference, although if unsure I would look towards the YELLOW levels.
Indicator located at the bottom:
I use this to see what price is doing and viewing in a line-chart if you will, and although price has crossed underneath the aqua line I am wanting to stay bullish.
Usually I wouldn't and would instead look for the opposite setup - but let's see how this plays out.
Note
Price has went under our trendline ignoring a retest - passed our RED level and started showing wicks at the bottom. I would like to see a retest on the upper aqua trendline with more bullish candlestick patterns.
Note
Price has resisted our top level - so we know in the future this will be a key area to watch - if price breaks above and holds for the long later.If the current candle closes as a bearish engulfing I would expect another test to our lower level(s).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.