OTHERS - Threatening to Form Another Dippity Dip?
Back in June 2024, price was well under the 50 EMA (Blue Ribbon) post death cross (When the 50 EMA ribbon crosses down the 200 EMA (Yellow Ribbon).
The same structure can be noted now. There were several attempts to cross the 500 EMA (Green Ribbon) from June to July, most of which failed.
Once price fell below June 2024 support (Labeled the Green Horizontal line) that signified the real danger zone.
The 500 EMA proved to be a significant resistance zone all the way through to November.
Fast Forward to now, OTHERS recently got rejected again by the 500 EMA. I have developed a support zone for this month February that can signify the same potential danger zone.
I believe if we fall though this months support structure, it could be a clue that we are not out of the woods quite yet.
The main question is, could we be facing another dip in the works?
These technicals could provide us with the clues, as we are in the post death cross stage. There is a possibility that this may not occur as it did before. This is only an assumption.
With that noted, I would rather share this information than keep it. If I'm wrong then no serious harm done. Making small entries during these times would be a wise decision as this is never a guarantee.
Good Luck Traders!
- Not Financial Advice -
The same structure can be noted now. There were several attempts to cross the 500 EMA (Green Ribbon) from June to July, most of which failed.
Once price fell below June 2024 support (Labeled the Green Horizontal line) that signified the real danger zone.
The 500 EMA proved to be a significant resistance zone all the way through to November.
Fast Forward to now, OTHERS recently got rejected again by the 500 EMA. I have developed a support zone for this month February that can signify the same potential danger zone.
I believe if we fall though this months support structure, it could be a clue that we are not out of the woods quite yet.
The main question is, could we be facing another dip in the works?
These technicals could provide us with the clues, as we are in the post death cross stage. There is a possibility that this may not occur as it did before. This is only an assumption.
With that noted, I would rather share this information than keep it. If I'm wrong then no serious harm done. Making small entries during these times would be a wise decision as this is never a guarantee.
Good Luck Traders!
- Not Financial Advice -
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.
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.