Hello everybody!
-On a 4-hour time frame we can see that the price broke through the yellow resistance line and then we had few retests and rejections and if we put 50 periods EMA we can see that the price is broke through 50 periods EMA and we can see that EMA is resisting the price.
-On lower time frames such as 1 hour, we can see lot of rejections on the yellow resistance line so we can consider that resistance becomes a support line and if you put 50 periods EMA on 1-hour chart you can see that the price bounces off in bullish direction, so we can consider 50 periods ema as a support line on a 1-hour chart.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
-On a 4-hour time frame we can see that the price broke through the yellow resistance line and then we had few retests and rejections and if we put 50 periods EMA we can see that the price is broke through 50 periods EMA and we can see that EMA is resisting the price.
-On lower time frames such as 1 hour, we can see lot of rejections on the yellow resistance line so we can consider that resistance becomes a support line and if you put 50 periods EMA on 1-hour chart you can see that the price bounces off in bullish direction, so we can consider 50 periods ema as a support line on a 1-hour chart.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
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.
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.