Analysis Explained:
1.- Major Trendline identified.
2.- Support line made using Volume Profile and matches with Fib retracement level 61.8%.
3.- Old minor trendline identified.
4.- Fib Retracement
5.- New minor trendline identified.
Expectations: That the value will go down using the trendline(5) until reach the major trendline (1) or near the support level (2) then it will go up again, this will have to be confirmed with volume.
Please let me know your comments,
RERS
1.- Major Trendline identified.
2.- Support line made using Volume Profile and matches with Fib retracement level 61.8%.
3.- Old minor trendline identified.
4.- Fib Retracement
5.- New minor trendline identified.
Expectations: That the value will go down using the trendline(5) until reach the major trendline (1) or near the support level (2) then it will go up again, this will have to be confirmed with volume.
Please let me know your comments,
RERS
The price formed a descending channel marked in blue.
Now I am waiting for the support line around 768 to be respected and the channel to be broken, always waiting for the volume confirmation (or looking at OBV Chart).