We may derive the following from the Monthly NED chart:
1. Price has dropped significantly over the past few months (see linked idea) and has reached a short target.
2. At present, we have reached a major monthly demand zone (orange box).
3. It is however, pre-mature to buy. Wait for an opportunity to present itself first - being a reversal formation (bottom) .
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
1. Price has dropped significantly over the past few months (see linked idea) and has reached a short target.
2. At present, we have reached a major monthly demand zone (orange box).
3. It is however, pre-mature to buy. Wait for an opportunity to present itself first - being a reversal formation (bottom) .
4. As always - maintain your risk.
Note: The views provided herein do not constitute financial advice.
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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.
Related publications
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.