Battle for 200 SMA rages on? Next stop 10200?
Updated
Heya All,
Woke up this morning to see that "the FIB circles of Death and Capitulation guys" have been busy and actually have read what they wrote. Shocker! again solid artwork and conclusion that leads to the answer "42". (Kudos if you got the reference and tip of my hat if you actually know what 42 actually means).
Now let's put some meat on that bone and discuss what we are seeing.
1. 200 SMA just got violated, yet this means nothing so far. If we manage to open and close 4H outside of it then I would expect continuation to 377 EMA stationed at 10200 Level.
2. Meanwhile, the volume impact signal line accelerates deep into the bearish zone and we see downward price pressure on the momentum oscillator.
To summarize, if we open and close below 200 SMA bad, if we play in the range between 200 EMA- SMA Good.
There is about a 70% chance that we continue the movement towards brown 377 EMA.
Happy trading all! and have a great day!
Cheers
Archie
Woke up this morning to see that "the FIB circles of Death and Capitulation guys" have been busy and actually have read what they wrote. Shocker! again solid artwork and conclusion that leads to the answer "42". (Kudos if you got the reference and tip of my hat if you actually know what 42 actually means).
Now let's put some meat on that bone and discuss what we are seeing.
1. 200 SMA just got violated, yet this means nothing so far. If we manage to open and close 4H outside of it then I would expect continuation to 377 EMA stationed at 10200 Level.
2. Meanwhile, the volume impact signal line accelerates deep into the bearish zone and we see downward price pressure on the momentum oscillator.
To summarize, if we open and close below 200 SMA bad, if we play in the range between 200 EMA- SMA Good.
There is about a 70% chance that we continue the movement towards brown 377 EMA.
Happy trading all! and have a great day!
Cheers
Archie
Trade closed: target reached
We started closing 4-hour dildos below 200 SMA. So that confirms our expected downwards move to 10.2 levels to the Brown 377 EMA. There is a death cross fast approaching on 2H, which does not hold much water but it indeed confirms our expectations for lower price levels.
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.