Watch for a breakout from converging trend lines
Note
price in long zoneNote
price at local trend resistance. Wait for clear breakout signalsNote
broke through resistance on volume. I'd expect a pullback to test new support levels, then a nice bull runNote
pullback testing new support on previous local trend line. I expect a continual slide down to longterm support. 4-hour Ichimoku is bearish; 1-hour is bullishs3.amazonaws.com/tradingview/snapshots/1/1TZKmvuO.png
Note
local trend support failed but long term support held. Strong bounce on high volume. Ichimoku cloud is resistance. s3.amazonaws.com/tradingview/snapshots/2/2Bw4j46Y.png
Trade active
@40.5Note
broke through 0.786 fib level
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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.