Orange Line - Trendline since November 2024
Blue Line - Trendline from 2020
SMA - Red (200) as a moving floor
SMA - Yellow (100) as a moving floor
1st Strong Floor - Resistance range 562 - 555
2nd Strong Floor - Resistance range 518 - 511
Downtrend Channel between blue lines
If the downtrend channel is broken with strength and volume, we could experience a retracement to the 584 - 595 range and then wait. However, if it is not broken and the strong downtrend continues, breaking the first floor range (wait for candlestick confirmation with bearish volume) and/or experiencing a false breakout (breakout without volume to the upside), we could expect a drop to the second floor range. It is important to wait for confirmations and execute the corresponding trades accordingly.
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Blue Line - Trendline from 2020
SMA - Red (200) as a moving floor
SMA - Yellow (100) as a moving floor
1st Strong Floor - Resistance range 562 - 555
2nd Strong Floor - Resistance range 518 - 511
Downtrend Channel between blue lines
If the downtrend channel is broken with strength and volume, we could experience a retracement to the 584 - 595 range and then wait. However, if it is not broken and the strong downtrend continues, breaking the first floor range (wait for candlestick confirmation with bearish volume) and/or experiencing a false breakout (breakout without volume to the upside), we could expect a drop to the second floor range. It is important to wait for confirmations and execute the corresponding trades accordingly.
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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.
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.