Closing Price Analysis
The daily chart showing closing prices reveals a pattern of ascending lows and a resistance level of 5.900 which has developed over the past 8 days. The volatility, especially during after-hours trading, makes discerning a meaningful pattern out of the candles difficult, so an orange line tracing the closing prices was added for closing price analysis.
The script for tracing closing price is very simple:
study("Closing Price", overlay=true)
plot(close)
The script for tracing closing price is very simple:
study("Closing Price", overlay=true)
plot(close)
Trade closed manually
Welp, that worked out well. Price jumped a little quicker than I think is sustainable in one day (~10%) so for now I took profits and am neutral. I'm waiting for a retest down to 5.900-6.000 range to buy back in.
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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.