-The tendency is downward, and below resistance
- The price is moving test resistance Daily ( 6600) and bounding triangle pattern.
1. The signal bar bearish--> Sell
2. The price breakout resistancce and moves up. Wating the price pullback--> BUY
On D1: Apperaed pinbar D1 and the tendency is upward
on H4: The price is pullback, test support, and move up.
( However, this is pullback wave. On W1 and MN is downward. The price broken tredline.
Support, S and Resistance, R
1.1. Support is a zone where price moves up.
1.2. Resistance is a zone where price moves down.
- Support and Resistance can interchange when that zone is overcome by price
2. Support and Resistance levels
2.1. Horizontal line
2.3. Moving averages
2.4. A Fibonancci level that you often use (Fibo 61.8)
W1: Double top forming, and the price move down, and testing 2EMA 50 & 78.
D1: The price is downtrend , and below resistance 1310 and 2EMA 50 &78
Strategy: The price pullback resistance and given signal--> SELL