HI guys its been a while since I last shared my chart. Like everyone else during this pandemic things had to be taken care of first. Before I share my TA, I would like wish you guys a safe and relaxing Sunday. If you like my TA, just LIKE and FOLLOW me for a Weekly TA of various assets from Crypto, FX to Commodities by reader (YOUR) request.
BIAS: Long Chart Pattern: Possible Cup and Handle Price Action with RSI and MACD: Bullish Convergence at D1 EMA 20: D1 Price action has broken and retested the EMA 20 on Sept 10 and Sept 16 respectively forming a Morning Star candlestick- another bullish sign Volume: Volume is favoring the buyers in the D1 and H4, with H4 of previous close pulling back to rewind for further upside imho Chaikin Money Flow: Rising from the bottom D1 average to '0' ZERO making a strong case for money flowing into longs. Invalidation: Short term invalidation is at approx. BELOW the 0.50 fib price action of the 'Cup and Handle Pattern' as highlighted with the green dash line. A more specific number is around 1.54872 which is calculated by the following formula: (D1 ATR x 1.5) - previous D1 close
If you like my TA and would like to request for one, GIVE me a LIKE+FOLLOW and send me a message and I'll do my best to include it in the next weekly analysis. Safe Trades everyone and Stay Safe :)
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.