We highlighted the areas most likely to have a tradable reaction with low risk and high reward. The analysis is based on the confluence between fibs and former support and resistance levels.
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LINEAR SCALE
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Let's see if on the LOG scale this trend line will offer resistance.
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Incoming golden cross between the 50 daily MA and 100 daily MA. Historically, the cross above the 50 Daily MA has been quite a bullish event so a golden cross at such low values could be even more bullish.
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Strong reaction from the first buy zone but unfortunately it barely touched it so we didn't get the chance to fill all of our orders. Now that it has printed a higher high the second buy zone isn't valid anymore. Here is the updated chart with the new buy and sell zones:
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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.