Hi all,
We've finally reached my retrace target comprising of four support zones shown within the green box on the 4H chart, with RSI divergence present. Although we have not yet seen reversal volume present there is declining volume on the daily since the rise from 7.4k suggesting we are nearing breakout in either direction.
In this case I am bullish . We are currently sitting on support inside an ABC corrective wave after breaking down from a B-wave triangle. Target for a third wave would be the red zone 13.7-14k, likely completing in January 2020, also aligning with prior resistance.
- 1D Declining volume
- 4H RSI Divergence
- Resting on 4 support zones
We've finally reached my retrace target comprising of four support zones shown within the green box on the 4H chart, with RSI divergence present. Although we have not yet seen reversal volume present there is declining volume on the daily since the rise from 7.4k suggesting we are nearing breakout in either direction.
In this case I am bullish . We are currently sitting on support inside an ABC corrective wave after breaking down from a B-wave triangle. Target for a third wave would be the red zone 13.7-14k, likely completing in January 2020, also aligning with prior resistance.
- 1D Declining volume
- 4H RSI Divergence
- Resting on 4 support zones
