We are at previous low, mostly this triggers a uptrend, trading long now.
Small LOSS or BIG gain, who knows!
Good luck to you all
Small LOSS or BIG gain, who knows!
Good luck to you all
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Looks strong out of the red triangle, hopefully we reach the upper part of the channel.
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bigger overview
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target 1 reached
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If the resistance breaks (fib 61.8%) and old upper part of channel, i strongly believe 5K1 is the next resistance, otherwise up to target 2
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tradingview.com/chart/AbJnieBQ/With the Fibonacci channel you can see the perfect parallel channel!
Look at Red 0% en blue 50% touches (red arrows)
Price movement
Below 50% blue line target 5100usd
Cross 0% red line targets 2 and 3
- Red line good short position with small stoploss
- Blue line now good for long position because we are @ 61.8% Fibonacci, over time this is not true because blue line descending.
Note
With the Fibonacci channel you can see the perfect parallel channel!
Look at Red 0% en blue 50% touches (red arrows)
Price movement
Below 50% blue line target 5100usd
Cross 0% red line targets 2 and 3
- Red line good short position with small stoploss
- Blue line now good for long position because we are @ 61.8% Fibonacci, over time this is not true because blue line descending.
Note
With the Fibonacci channel you can see the perfect parallel channel!
Look at Red 0% en blue 50% touches (red arrows)
Price movement
Below 50% blue line target 5100usd
Cross 0% red line targets 2 and 3
- Red line good short position with small stoploss
- Blue line now good for long position because we are @ 61.8% Fibonacci, over time this is not true because blue line descending.
Note
descending red 0% line is broken, ready to break previous high!
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possible retrace at red dotted line, therefore 161.8% is still feasible.
I expect a retrace to red line 100% or up to blue support bar.
Retrace at red line, then it is possible to break old trend line at target 3.
Retrace at support, then I expect high sales pressure at target 3.
is support broken then ......
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Building a bear flag but signals are getting weak, possible retrace
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red line broken and looking strong!
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Resistance broken, target 3 within reach
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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.
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.