I drew support and resistance levels for GBPUSD. I also drew out my trend line for the movement of this market, despite a previous upward trend, I believe there's going to be down turn and the price will drop. I would suggest a sell.
I drew out my trend line to coincide with the movement of the asset. I also saw trends initially moving upward then followed by heavy liquidation and then a strong downward trend. However, support and resistance levels display the price to rally and dip too far below the support level. I would move in on a buy play for a short period of time because the asset is...
For this chart, I only plotted two levels, one support and one resistance. I only did two because those were the most obvious to me but I added in a trend line displaying a downward trend connecting peaks. The blue circles display confirmations supporting either support or resistance levels, while the red ellipses confirm the downward trend at certain price peaks.
For this chart, I only plotted two levels, one support and one resistance. I only did two because those were the most obvious to me but I added in a trend line displaying a downward trend connecting peaks. The blue circles display confirmations supporting either support or resistance levels, while the red ellipses confirm the downward trend at certain price peaks.
I drew multiple S&R levels, although I could have drawn more I wanted to keep it fairy simple. The upper most level displays the resistance with some deviations, the middle level displays a former resistance level that turned into a new support level and finally the lower most level displays the original support level. I circled price points to serve as...
