The 13 ema provides great support and resistance on the daily timeframe.
After the strong price action of June 24th, we saw the inability to trade below, a sign of strength.
We then punched the 13 ema on the 30th, another sign of strength.
The 3rd sign of strength was the retracement into and support on the FIbonacci 0.618/0.705/0.786. This was a great time to look for a long.
Once price punches the 13 and continues to be supported above, we should look for ongoing strength above the 50/55 ema as seen in the past.
I hope you enjoyed this follow up, once again, congrats Leo.
After the strong price action of June 24th, we saw the inability to trade below, a sign of strength.
We then punched the 13 ema on the 30th, another sign of strength.
The 3rd sign of strength was the retracement into and support on the FIbonacci 0.618/0.705/0.786. This was a great time to look for a long.
Once price punches the 13 and continues to be supported above, we should look for ongoing strength above the 50/55 ema as seen in the past.
I hope you enjoyed this follow up, once again, congrats Leo.
Comment:
The original idea
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