1. THE YELLOW LINE: this is an important uptrend which is being touched by the chart for the 3rd time.
2. THE RED LINE: S&R line that is broken as resistance and now is turned to strong support.
3. THE GREEN ZONE: a reliable zone. if it is extended more support can be found.
4. THE FIB OF THE WAVE AB: if we draw the fib retracement corresponding to the wave of AB, the chart is near to important Fibonacci number 61.8.
PUT THEM TOGETHER:
we have an elliptic zone with four strong lines all acting as support. so we should expect a nice upward movement.
"good risk to reward ratio"
CONSIDER THAT THE NEWS OF "ECB's President Lagarde speech " CAN EFFECT THE MARKET. SO THE BEST OPTION FOR ME IS TO WAIT UNTIL THE NEWS IS RELEASED.
2. THE RED LINE: S&R line that is broken as resistance and now is turned to strong support.
3. THE GREEN ZONE: a reliable zone. if it is extended more support can be found.
4. THE FIB OF THE WAVE AB: if we draw the fib retracement corresponding to the wave of AB, the chart is near to important Fibonacci number 61.8.
PUT THEM TOGETHER:
we have an elliptic zone with four strong lines all acting as support. so we should expect a nice upward movement.
"good risk to reward ratio"
CONSIDER THAT THE NEWS OF "ECB's President Lagarde speech " CAN EFFECT THE MARKET. SO THE BEST OPTION FOR ME IS TO WAIT UNTIL THE NEWS IS RELEASED.
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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.