1. THE YELLOW LINE: this is a strong monthly and weekly resistance trend line that has been broken and turned into a support line. now, as it is clear the chart could reach the line and retesting it. from this point of view, we can expect to have a rise in the price.
2. THE RED LINE: which is a long-term S&R line. this line is broken too and getting touched by the chart and we should expect to acts as a support line.
3. ELLIPTIC ZONE: this zone is in fact the intersection between our yellow and red lines both acting as a support line.
>>> so definitely we should expect to see a nice rise on the chart.
GET THE CONFIRMATION FROM H4 TF.
remember this is just an idea
2. THE RED LINE: which is a long-term S&R line. this line is broken too and getting touched by the chart and we should expect to acts as a support line.
3. ELLIPTIC ZONE: this zone is in fact the intersection between our yellow and red lines both acting as a support line.
>>> so definitely we should expect to see a nice rise on the chart.
GET THE CONFIRMATION FROM H4 TF.
remember this is just an idea
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.