CMT reversal levels
Updated
CMT is expected to hit resistance in the channel. If it breaks through confirmation of reversal at the green line. If it is rejected will see it go down to the red line before trying again.
Note
We have now broken above my breakout level if this holds will be a confirmed reversal and a new upward trend.Note
Here we see the initial parabolic bounce. Until it violates the green line we should see a continuation. Once it breaks the green line we will see a correction and the real trend will reveal itself. leave a like and a comment good or bad!Note
we have broken parabolic advance. Now it is time to wait and see where the support level is to determine the upward trend channel.Note
My guess is we will bounce off of the ema (blue) but I will not trade this before a confirmed bounce and establishment of the upward channel.Note
If we go so low as to re-enter the downward channel then the entire break out is a fake one. At that point we will see a lower low and retry to escape it at another time.Note
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