Hi guys. Ideas on this post are my own opinions and for educational purposes as i try to express my thoughts. This is by no means financial advise, as i am NOT a financial advisor.
Lets jump in. So this is an update on the Daily timeframe.
I am still long unless proven otherwise.
Infact the Daily is more powerful than the 12hr and 8 hr.
We are curretly below the the 0.5 FIb level. The end of this week needs to have a close above with confirmation. So watch the weekly as well!
On the Daily we broke out of this short term white downward trend line pushing price down.
And the price action currently in this area seems like consolidation to me. Alot of volume, bigger candles than previously seem on intermediate term also seen.
Bullish Divergence is still intact. Where price action is pointed downwards but indicators are pointing upwards. I got 3 indicators showing confluence on this divergence.
STOCH RSI, is crossing above the 20 level, momentum could pick up! Keep an eye.
For places to sell, keep an eye on:
1. Red trend line above us
2. 0.618 fib
3. Price Gap
Hope this helps. Let me know what you think! Like, Comment, Follow for more of my ideas!
Thank you for your time!
DIsclaimer: This is not financial advise, i am not a financial advisor. The ideas posted here are my opinion only.
Lets jump in. So this is an update on the Daily timeframe.
I am still long unless proven otherwise.
Infact the Daily is more powerful than the 12hr and 8 hr.
We are curretly below the the 0.5 FIb level. The end of this week needs to have a close above with confirmation. So watch the weekly as well!
On the Daily we broke out of this short term white downward trend line pushing price down.
And the price action currently in this area seems like consolidation to me. Alot of volume, bigger candles than previously seem on intermediate term also seen.
Bullish Divergence is still intact. Where price action is pointed downwards but indicators are pointing upwards. I got 3 indicators showing confluence on this divergence.
STOCH RSI, is crossing above the 20 level, momentum could pick up! Keep an eye.
For places to sell, keep an eye on:
1. Red trend line above us
2. 0.618 fib
3. Price Gap
Hope this helps. Let me know what you think! Like, Comment, Follow for more of my ideas!
Thank you for your time!
DIsclaimer: This is not financial advise, i am not a financial advisor. The ideas posted here are my opinion only.
Comment:
Weekly candle closing soon. Its currently below the .5 fib. However take notice, its a small body, equal top/bottom wick. This is NOT a confirmation candle, therefore if the week candle closes as this. Trade is still intact, and we await next weeks action. With Daily stoch RSI above 20 level. Always stay positive and have a game plan!
