Trend Is Your Friend 1. One touch, Two Touch and Three Touches complete a trend. 2. EMA acting as dynamic resistance 3. Market has entered an area of sensitivity @ 19.8000 also know as a psychological level where institutions place orders and take profit 4. Waiting for 3 two hour candles to show signs of rejection to place sell...
Pattern: Channel Up on 1W. Signal: Bullish as the pattern is close to making a Higher Low. Confirmation comes once the RSI tests the symmetrical Support Zone. Target: 16.7500 (just below the Symmetrical Resistance). Previous targets hit:
Pattern: 1M Channel Down. Signal: Bearish as the price is near the inner Higher Low trend line. Target 16.3000.