On the hourly we are looking at a falling wedge and Chuvashov fork set up. We have yet to break out but the fork shows the increasing buy pressure. This is supported by the MFI, CMF and Acc/Dist indicators.
Looking for further accumulation at this price level, coupled with a reset in the RSI back to trend, to gear up for potential break out. Look to buy on breaking up from this fork, or a strong third bounce off lower support.
Looking for further accumulation at this price level, coupled with a reset in the RSI back to trend, to gear up for potential break out. Look to buy on breaking up from this fork, or a strong third bounce off lower support.
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Endless learning
Related publications
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.