The fun part of charting is painting across different scenarios and see how it pans out in the near future. If you get it right more often than wrong, it gives you both satisfaction and rewards (financially).
Like the saying, there is many ways to slice a fish , be it steamed, fried or charcoal grilled. The same thing for charting - some like to use indicators like EMA, RSI, MACD while others swear by candle stick patterns, Fibonacci , support and resistance and the list goes on. There are probably more indicators in the market that you can ever use in your chart but whatever make sense to you that is the most important.
Now that it has broken out of the resistance at 22, 701 , I believe the rally will continue, never mind if it is at snail pace. If you examine closely , since Apr 22, it has been 5 times that the price action attempt to break out but unsuccessfully. This time, I believe it will sustain the rally and move up higher.
What happens after 90 days pause for the tariffs? Your guess is as good as mine. It could be a further kick down the road to extend another 60 to 90 days or perhaps some sorts of mutual agreements between US and China.
Let's take one step at a time, enjoy the ride up and not worry excessively.........
As usual, please DYODD
Like the saying, there is many ways to slice a fish , be it steamed, fried or charcoal grilled. The same thing for charting - some like to use indicators like EMA, RSI, MACD while others swear by candle stick patterns, Fibonacci , support and resistance and the list goes on. There are probably more indicators in the market that you can ever use in your chart but whatever make sense to you that is the most important.
Now that it has broken out of the resistance at 22, 701 , I believe the rally will continue, never mind if it is at snail pace. If you examine closely , since Apr 22, it has been 5 times that the price action attempt to break out but unsuccessfully. This time, I believe it will sustain the rally and move up higher.
What happens after 90 days pause for the tariffs? Your guess is as good as mine. It could be a further kick down the road to extend another 60 to 90 days or perhaps some sorts of mutual agreements between US and China.
Let's take one step at a time, enjoy the ride up and not worry excessively.........
As usual, please DYODD
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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.