FCPO 30 Sept 2021 : Break ATH or reversal?
Updated
1. Based on analysts, the current price is not sustainable
2. Price almost reaches ATH before decide to break higher or lower.
3. Price consolidation for a couple of months can be reaccumulation or distribution. But based on previous spring formation and LPS indicate strong buyer.
Strategy:
For Buy..Wait for the price pullback to 4480~4490 range..Why?
1. Possible resistance become support
2. Gann level at 4490
3. Possible reject EMA14 for 15min TF
4. Minor up trendline for support
5. Fibo retracement level 38.2
For Sell : Wait for false breakout ATH
2. Price almost reaches ATH before decide to break higher or lower.
3. Price consolidation for a couple of months can be reaccumulation or distribution. But based on previous spring formation and LPS indicate strong buyer.
Strategy:
For Buy..Wait for the price pullback to 4480~4490 range..Why?
1. Possible resistance become support
2. Gann level at 4490
3. Possible reject EMA14 for 15min TF
4. Minor up trendline for support
5. Fibo retracement level 38.2
For Sell : Wait for false breakout ATH
Note
4591 for the bullish target.Gann level + Upper channel line
Note
Sign of strength buyerNote
Absorbtion?Note
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