Red lines are the downtrend pattern. Green lines are the uptrend pattern (should break in the future). Yellow lines are major resistance and support. This is an individual analysis and speculation. Do share your oppinion.
Looks like a good sell, depending on the following candle. RSI is overbought. If red EMA line is broken, go long until resistance. If it bounces off, sell until support line. (yellow dotted) Personal analysis, share your insights.
A Possible bullish trend for next week, since we require a pullback after the drop. BUT I will post a better analysis on the weekend. For now, it does look like it might be going up starting Monday but this can only be confirmed once that EMA line breaks (been bouncing off it long enough. On the 4H the EMA line is too far away and the candles need to approach...
Excluding sir gartley behind there, we seem to have found the right pattern here. Candles stay within the ranges placed. Should go higher until resistance.
Just another follow up. If it breaks support, we will continue down and follow the pattern.
Given that I placed both a short and a long order within a certain range before that explosion, but given that I assumed a drop, I decided to make this to lighten the mood for those who, like me, found this surprising. So do not take the emojis too seriously. Waiting for short, the blue line is a resistance line found on the weekly chart, giving the possibility...
We are at a 50/50 area, where this could be either a long or a short. By the looks of it, the avalanche of data due tomorrow will be where the trend is decided. Last time we had an RSI divergence, the pair dropped like the price of greek bonds, so seeing the second divergence means we could possibly expect an equally strong swing. Personally, the EMA line is a...
Make of it as you wish, but if the resistance (the yellow line) is broken, we might still go up. If not, expect hitting support again or even going lower on the trendline. We have divergence on the RSI so watch out. If you zoom out on the daily timeframe, you can see we might still have ways to go. I am new here, any advice and feedback is appreciated.
Sell should be confirmed only when a bearish candle CLOSES outside of the upper trend line AND the red EMA. A good confirmation will be if the RSI will cross under 40 the moment the candle closes under the EMA. A sell should then be confirmed and held until the first TP, which should be the old support line. If line is crossed, hold sell. Thanks to user...