FCPO 14 Feb 2023 : Price breach downtrend channel?
Updated
1. Channel/Trendline: Yesterday price retest and reject mid-channel before going up to test the upper channel. This indicates strong buyers in the market because not allow prices to go lower channel.
2. SnR: Price plays in the support zone area and is still not decided yet on the direction.
3. Fibo: Price rejects 236 fibo level indicates sideway market still in play. The price might go lower to the 786 level if not able to breach and sustain above the 236 level.
4. MACD: There is no interesting divergence yet. We only see green divergence indicating uptrend movement in play.
2. SnR: Price plays in the support zone area and is still not decided yet on the direction.
3. Fibo: Price rejects 236 fibo level indicates sideway market still in play. The price might go lower to the 786 level if not able to breach and sustain above the 236 level.
4. MACD: There is no interesting divergence yet. We only see green divergence indicating uptrend movement in play.
Note
5min1. EMA12 above EMA50 = Uptrend
2. Price able to break the nearest resistance = Uptrend
Trade active
1min Re-entry BUY chanceNote
1minEntry buy confirmation
Note
1minRe-entry opportunities when MACD change to red
Note
Possible uptrend channelNote
5min possible TP top channelNote
Test EMA50 5min.See if there is any confirmation entry
Note
Confirmation entry
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