the price is in a significant intersection:
1. it is clear that the chart is testing the lower line of the weekly channel since July 2016.
2. the dark black line is 61.8 FIB EXP of the wave ABC.
3. the gray zone which is a strong resistance zone (expand it to the past to see it).
4. the important green zone (rotated rectangle).
conclusion:
1.putting them together show us that the price has a good potential to change its direction and goes up.
2. meanwhile, we should be aware that this is just an idea and the price will make its decision which direction to go. so, if the price gets out of the channel and breaks the intersection, the second plan is waiting for pull back to the zone, bouncing there for a while and start to continue down.
>>>>get the confirmation from H4 time frame on the base on candle stick formation.<<<<
1. it is clear that the chart is testing the lower line of the weekly channel since July 2016.
2. the dark black line is 61.8 FIB EXP of the wave ABC.
3. the gray zone which is a strong resistance zone (expand it to the past to see it).
4. the important green zone (rotated rectangle).
conclusion:
1.putting them together show us that the price has a good potential to change its direction and goes up.
2. meanwhile, we should be aware that this is just an idea and the price will make its decision which direction to go. so, if the price gets out of the channel and breaks the intersection, the second plan is waiting for pull back to the zone, bouncing there for a while and start to continue down.
>>>>get the confirmation from H4 time frame on the base on candle stick formation.<<<<
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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.
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.