While the price is above the support 190.10, resumption of uptrend is expected.
We make sure when the resistance at 637.00 breaks.
If the support at 190.10 is broken, the short-term forecast -resumption of uptrend- will be invalid.
There is a divergence in and price between the trough at 460.75 on 2018-08-14 and the trough at 405.45 on 2018-09-12, the probability of downtrend continuation is decreased and the probability of resumption of uptrend is increased.
The downtrend #1 is broken, so the probability of resumption of uptrend is increased.
The resistance #2 at 60 is broken, so the probability of resumption of uptrend is increased.
While the uptrend #3 is not broken, wave in price would continue.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
( ) is 51.
There is a possibility of temporary retracement to suggested (400.0 to 279.8). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (400.0)
Ending of entry zone (279.8)
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
TP12= @4088. 05
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