Based on my analysis of the chart, this is my thoughts. Weekly support and resistance shown in red. Price is approaching. Daily is generally upward trend. Not at resistance yet. 4 hour resistance line is shown in yellow. 1 hour shows hanging man candle stick which is bearish reversal. Therefore I believe price would retrace back to the 61.8 level as...
This is purely my analysis. I will monitor the chart for the next few weeks and amend comments at the bottom. Weekly: Trend is downwards. Price is moving closer to 78.6 Level which acts as key support. As shown by yellow line on chart, look left. I expect to see some signs of reversals coming soon when price touches the line. Candle sticks are still bearish....
See notes as per chart. Will watch on Monday
From the Daily Chart, price is; At the Fib 50 Level. Spinning top candle stick was forming Rejecting of Fib 50. At Area of Support. From the 4 Hour Chart, price is; Rejecting Fib 50. Stochastics is oversold. RSI is slightly bullish. From the 1 Hour Chart, price is; Divergent on the RSI and Stochs. From the 15min Chart, price is; Broken out from the...
Based on the following analysis. The overall long term trend is upwards. Price has found itself at an area of support. Currently waiting for price to break and retest the trend. Areas marked for potentials entries with risk reward of 1:3 therefore good. RSI is at 30 on Daily, and on 4 hour starting to rise. Will continue to monitor trade. This...
Price is at ascending trendline. Price is at 78.6 Fib level Price is at strong horizontal support Awaiting final candle stick pattern. RSI is showing divergence. Expectations to reject off this level and hopefully complete AB=CD pattern. This is purely my idea and analysis. Trade at your own risk.