First,I must tell you this is my first chart on Stocks.I've been trading cryptos for months and that market is completely different from this one.With that said don't take this idea too serious.DYOR .
Hope everyone was enjoying the profits from the long rally since last February.Now the market must correct itself before the next leap.Red lines are reversal zones(strong support).
MACD and RSI are negative too.
Stoploss - 966
Hope everyone was enjoying the profits from the long rally since last February.Now the market must correct itself before the next leap.Red lines are reversal zones(strong support).
MACD and RSI are negative too.
Stoploss - 966
Trade active:
This trendline will act as the resistance
Comment:
As stated before the trendline acted as the temporary resistance.Now I'm expecting it to break upwards resulting in a short uprun.
Trade active:
As expected the trendline was breached.Green lines shown here are the keylevels to be watched.These levels are possible reversal zones.If the bulls manage to close above these levels we will see a new ATH.On the other hand if it gets reversed from these levels,it will enter accumulation phase which might lead to lower lows.
Trade closed: stop reached:
Sorry for the late update.As recommended in previous update the daily closed above(yellow circle) the top resistance which confirmed the end of the correction.The pullback was stopped by the next key level and the strong bounce (green circle) reassured the end of the correction.
Comment:
Comment: