The yellow rectangle is a strong support area.
1. Once it's valid,, price may test the upper resistance line again, but i assume it would fail in high possibility.
2. Once the price punches the area, it will test the red support line again.
Considering the former idea i've posted which i attach below, the line might be punched the first time since 15 Jan., and the price will enter a new downtrend again.
Short NG1!
Attached former idea: Once we come to February, it's time to short NG1!, this is my opinion: twitter.com/xiaomidaddy/status/1086386660315521024?s=21 )
1. Once it's valid,, price may test the upper resistance line again, but i assume it would fail in high possibility.
2. Once the price punches the area, it will test the red support line again.
Considering the former idea i've posted which i attach below, the line might be punched the first time since 15 Jan., and the price will enter a new downtrend again.
Short NG1!
Attached former idea: Once we come to February, it's time to short NG1!, this is my opinion: twitter.com/xiaomidaddy/status/1086386660315521024?s=21 )
Trade active
Price goes all as expected! bravo!Note
there are big TYPOs!NG1! should be corrected to CL1!
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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.