GMTUSD Buy levels if you missed the rally
GMTUSD is one of the hottest coins around having seen an incredible rise since March 09. Naturally not everyone had the insight to get in on this rally but having traded for almost 1 month, we can see some levels and pressure points on the 4H time-frame that can help those who missed it, get a solid entry.
As you see, this uptrend is being supported by the 4H MA50 (blue trend-line). Every .5 Fibonacci peak (1.5, 2.5, 3.5) is followed by a consolidation within that and the .0 below (1.0, 2.0 and 3.5 respectively). If this correlation continues to hold, then we should now see a new consolidation within the 3.5 and 3.0 Fib extension levels. Ideally, new buyers can wait for the 4H RSI to hit its Buy Zone (50.00 - 43.00) before entering.
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As you see, this uptrend is being supported by the 4H MA50 (blue trend-line). Every .5 Fibonacci peak (1.5, 2.5, 3.5) is followed by a consolidation within that and the .0 below (1.0, 2.0 and 3.5 respectively). If this correlation continues to hold, then we should now see a new consolidation within the 3.5 and 3.0 Fib extension levels. Ideally, new buyers can wait for the 4H RSI to hit its Buy Zone (50.00 - 43.00) before entering.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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