GOLD WEEKLY CHART MID/LONG TERM/RANGE ROUTE MAPHey Everyone,
Please see update on our weekly chart idea and analysis that we have been tracking and trading for several months.
Previously after completing our final target on this chart at 2505, we stated that a crucial week was coming up, as we needed price to find support above the channel top to confirm play in this range and will need a correctional retest on the channel top for a continuation above.
- As you can see we got the correction just above the channel top near 2467 Goldturn support, which followed with a nice push up like we said. We now also have a candle body close above 2505 leaving a long term/range gap open to 2557.
However, if we see a rejection before the gap and a break back into the channel then we will use the levels within the channel to provide the bounces, inline with our plans to buy dips in true level to level fashion, using our smaller time-frames keeping in mind the long range gap for the future..
Buying dips allows us to safely manage any swings, instead of chasing the bull from the top.
Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
Tradingideas
GOLD ROUTE MAP UPDATEHey Everyone,
A Piptastic week for us once again hitting all our targets in true level to level fashion !!!
Yesterday after completing the retracement range, we got the bounce and looked for the 2488 test, which was hit perfectly like we stated!!! This followed with a continuation hitting the remaining bullish targets once again and completing the last target at weighted level 2509.
We will now need to see ema5 lock above 2509 for a continuation or a failure to lock above this level will follow with a rejection.
BULLISH TARGET
2509 - DONE
EMA5 CROSS AND LOCK ABOVE 2509 WILL OPEN THE FOLLOWING BULLISH TARGET
2519 - DONE
POTENTIALLY 2533
BEARISH TARGETS
2500 - DONE
EMA5 CROSS AND LOCK BELOW 2500 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2488 (DONE) - 2472 (DONE)
EMA5 CROSS AND LOCK BELOW 2472 WILL OPEN THE SWING RANGE
SWING RANGE
2458 - 2446
We will now come back Sunday with our Multi time-frame analysis, Gold route map and trading plans for the week ahead.
Have a smashing weekend!! And once again, thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
XAGUSD / TRADING UNDER DOWNWARD PRESSURE - 4HXAGUSD / 4H TIME FRAME
HELLO TRADERS
Tendency , prices is under downward pressure , until trading below turning level at 29.65 .
Downward Condition : With the price holding steady at the current turning level at 29.65 , it is likely to decline towards the support level of 28.85. If it stabilizes below this level, it could then reach the next target level of 28.11 .
Upward Condition : for an upward , a potential is expected if the price breaks the turning level at 29.65 , leading to a rise toward the resistance level (1) at 30.48 . For a sustained increase, the price must breaking the resistance level (1) to reach the next resistance at 31.28 .
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 30.48 .
RESISTANCE LEVEL (2) : 31.28 .
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 28.85 .
SUPPORT LEVEL (2) : 28.11 .
TURNING LEVEL : 29.65 .
TSLA / DECLINE BEFORE RISING - 4HTSLA / 4H TIME FRAME
HELLO TRADERS
Tendency , prices is under upward pressure , until trading above turning level at 195.12
Upward Condition : The price is currently showing bullish momentum. As long as it stays above the turning level of 195.12 , it is likely to move upward toward the resistance levels at 227.92 and then 253.52 .
Downward Condition : To reach the 168.36 support level (1) , the price needs to first break the turning level by closing a 4-hour candle below 195.12 . If it stabilizes below support level (1) , a further decline toward the support level (2) at 141.32can be anticipated .
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 227.92 .
RESISTANCE LEVEL (2) : 253.52 .
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 168.36 .
SUPPORT LEVEL (2) : 141.32 .
TURNING LEVEL : 195.12 .
EURUSD / INSIDE ASCENDING CHANNEL - 4HEURUSD / 4H TIME FRAME
HELLO TRADERS
Tendency , prices is under downward pressure , until trading below turning level at 1.112 .
Downward Condition : With the price holding steady at the current turning level at 1.112 , it is likely to decline towards the support level of 1.107. If it stabilizes below this level, it could then reach the next target level of 1.099 .
Upward Condition : for an upward , a potential is expected if the price breaks the turning level at 1.112, leading to a rise toward the resistance level (1) at 1.117 . For a sustained increase, the price must breaking the resistance level (1) to reach the next resistance at 1.112 .
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 1.117 .
RESISTANCE LEVEL (2) : 1.112 .
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 1.107 .
SUPPORT LEVEL (2) : 1.099 .
TURNING LEVEL : 1.112 .
USOIL / TRADING INTO DESCENDING CHANNEL - 4HUSOIL / 4H TIME FRAME
HELLO TRADERS
Tendency , prices is under downward pressure , until trading below turning level at 74.76
Downward Condition: With the price holding steady at the current turning level at 74.76 , it is likely to decline towards the support level of 72.81. If it stabilizes below this level, it could then reach the next target level of 70.92
Upward Condition : for an upward , a potential is expected if the price breaks the turning level at 74.76 , leading to a rise toward the resistance level (1) at 76.15 . For a sustained increase, the price must breaking the resistance level (1) to reach the next resistance at 78.55
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 76.15 .
RESISTANCE LEVEL (2) : 78.55 .
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 72.81 .
SUPPORT LEVEL (2) : 70.92 .
TURNING LEVEL : 74.76 .
GOLD / UNDER BEARISH PRESSURE - 4HXAUUSD / 4H TIME FRAME
HELLO TRADERS
Tendency , prices is under downward pressure , until trading below turning level at 2,507$
Downward Condition: With the price holding steady at the current turning level at 2,507$ , it is likely to decline towards the support level of 2,475$. If it stabilizes below this level, it could then reach the next target level of 2,459$ , maybe prices reach 2,520$ before starts a dropping .
Upward Condition : for an upward , a potential is expected if the price breaks the turning level at 2,507$ , leading to a rise toward the resistance level (1) at 2,520$ . For a sustained increase, the price must breaking the resistance level (1) to reach the next resistance at 2,532$.
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 2,520$ .
RESISTANCE LEVEL (2) : 2,532$.
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 2,475$ .
SUPPORT LEVEL (2) : 2,459$ .
TURNING LEVEL : 2,507$ .
XAUUSD / TRYING TO RETEST BEFORE REACH HISTORICAL PEACK - 4HXAUUSD
HELLO TRADERS
Tendency , the price is under bullish pressure , until trading above turning level at 2,474$ .
Turning Level: The price is currently trading above this level around 2,474$ . As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected.
support Level (1) : around 2,452$ , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 2,474$ . If the price reaches 488.2 , and stabilizes below it, it will likely attempt to reach support level (2) .
support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 2,432$ . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 2,420$ .
Resistance Level (1): As long as the price remains above the turning level of 2,474$$ , it suggests a rising towards 2,508$ . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2).
Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 2.525$ . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 2,540$ .
Channel Trend: the trading rate within the ascending channel .
TARGET LEVEL :
RESISTANCE LEVEL : 2,508$ , 2,525$ , 2,540$ .
SUPPORT LEVEL : 2,452$ , 2,432$ , 2,420$ .
GOLD ROUTE MAP UPDATEHey Everyone,
Once again our levels were respected and provided the calibrated bounces inline with our plans to buy dips.
Yesterday we advised that we were now seeing a range being established between 2500 and 2519/2533 and will need to see ema5 cross and lock on either weighted support or resistance level to determine the next move.
- 2519 was hit and then no lock confirmed the rejection into 2500 and then a break of 2500 followed with the full retracement range test. The retracement level gave the bounce exactly like we shared and more than 40 pips.
We will now look for a 2488 re-test and a failure to cross and lock above this level will follow with a rejection into the retracement range again. A further cross and lock below the retracement range will open the swing range for the extended swing bounce.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2509 - DONE
EMA5 CROSS AND LOCK ABOVE 2509 WILL OPEN THE FOLLOWING BULLISH TARGET
2519 - DONE
POTENTIALLY 2533
BEARISH TARGETS
2500 - DONE
EMA5 CROSS AND LOCK BELOW 2500 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2488 (DONE) - 2472 (DONE)
EMA5 CROSS AND LOCK BELOW 2472 WILL OPEN THE SWING RANGE
SWING RANGE
2458 - 2446
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
SNXUSDT / TRADING BELOW TURNING LEVEL - 4HSNXUSDT - 4H TIME FRAME
HELLO TRADERS
Tendency , prices is under downward pressure , until trading below turning level at 1.557 .
Downward Condition: With the price holding steady at the current turning level at 1.557 , it is likely to decline towards the support level of 1.445. If it stabilizes below this level, it could then reach the next target level of 1.284 .
Upward Condition : for an upward , a potential is expected if the price breaks the turning level at 1.557 , leading to a rise toward the resistance level (1) at 1.660 . For a sustained increase, the price must breaking the resistance level (1) to reach the next resistance at 1.767 .
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 1.660 .
RESISTANCE LEVEL (2) : 1.767 .
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 1.445 .
SUPPORT LEVEL (2) : 1.284 .
TURNING LEVEL : 1.557 .
AUDUSD ( TRADING BELOW TURNING LEVEL ) ( 4H )AUDUSD
HELLO TRADERS
If the price trades below the turning level, it indicates downward pressure towards the first support zone. However, if the turning level is broken and the price stabilizes above the channel, the upward movement will likely become active, targeting the first resistance level.
Tendency , the price is under downward pressure , until trading below turning level around 0.667 .
Upward Zone : for an upward movement to occur , the price needs to break through the turning level at 1.101 , leading to rise that could reach the resistance level (1) at 0.675 , if the price breaks and stabilizing above this level it may attempt to reach resistance zone between 0.679 and 0.685 .
Downward Zone: as long as the price remain below the turning level at 1.094 , it may drop towards the support level (1) at 0.659 , if the price breaks this level with a 4h candle closing below it , it suggest further decline towards the support zone between 0.651 and 0.643
CORRECTIVE : currently price it will be attempt to retest to reach a turning level at 0.667 before dropping .
TARGET LEVEL :
RESISTANCE LEVEL : 0.675 ,0.679 , 0.685 .
SUPPORT LEVEL : 0.659 , 0.651 , 0.643 .
LTCUSD / REMAIN BELOW TURNING LEVEL - 4HLTCUSD
HELLO TRADERS
Tendency , the price is under bearish pressure , until trading below turning level at 68.30 .
Turning Level: The price is currently trading below this level around 68.30 . As long as it remains stable and stays below this level, a drop toward the support level is likely . However, if the price breaks above this level and a 4-hour candle closes above it, an upward move toward the resistance level can be expected.
Resistance Level (1): around 73.17 , The price is currently below turning level . To reach this level, the price needs to break and close a four-hour candle above the turning level at 68.30. If the price reaches 73.17 , and stabilizes above it, it will likely attempt to reach resistance level (2) .
Resistance Level (2): When the price breaks through Resistance Level (1) and closes a 4-hour candle above it, this suggests it could reach around 76.44 . To confirm an uptrend, the price needs to reach this level before moving on to Resistance Level (3) at 79.83 .
Support Level (1): As long as the price remains below the turning point of 68.30, it suggests a drop towards 61.62 . If the price reaches this level and stabilizing below it, it will likely attempt to reach Support Level (2).
Support Level (2): When the price breaks through support level(1)and closes a 4-hour candle below it, this suggests it could reach around 57.61 . To confirm a downtrend , the price needs to reach this level before decline on to support Level (3 )at 52.93 .
Channel Trend: the trading rate within the descending channel.
TARGET LEVEL :
RESISTANCE LEVEL : 73.17, 76.44 , 79.83 .
SUPPORT LEVEL : 61.62 , 57.61 , 52.93 .
EURUSD / BREKOUT ASCENDING CHANNEL - 4H
EURUSD
Tendency , the price is under bullish pressure , until trading above turning level at 1.101 .
Turning Level: The price is currently trading above this level around 1.101. As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected.
support Level (1) : around 1.095 , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 1.101. If the price reaches 1.095 , and stabilizes below it, it will likely attempt to reach support level (2)
support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 1.088 . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 1.078 .
Resistance Level (1): As long as the price remains above the turning level of 1.101 , it suggests a rising towards 1.108 . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2).
Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 1.113 . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 1.116 .
Channel Trend: breakout ascending channel .
TARGET LEVEL :
RESISTANCE LEVEL : 1.108 , 1.113 , 1.116 .
SUPPORT LEVEL : 1.095 ,1.084 , 1.78 .
US30 ( UNDER BULLISH PRESSURE ) - 4H US30
HELLO TRADERS
Tendency , prices is under upward pressure , until trading above turning level at 40,680
Upward Condition :The price is currently experiencing bullish momentum. As long as it remains above the 40,680 turning level , it is likely to move upward toward the resistance levels of 41,040 and then 41,401.
Downward Condition :To reach the 40,239 support level (1) , the price needs to first break the turning level by closing a 4-hour candle below 40,680. If it stabilizes below support level (1) , a further decline toward the support level (2) at 39,812 can be anticipated .
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 41,040 .
RESISTANCE LEVEL (2) : 41,401 .
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 40,239 .
SUPPORT LEVEL (2) : 39,812 .
TURNING LEVEL : 40,680 .
NAS100USD / BREAKOUT THE CHANNEL - 4H NAS100USD
Tendency , the price is under bullish pressure , until trading above turning level at 19,600 .
Turning Level: The price is currently trading above this level around 19,600 . As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected.
support Level (1) : around 19,188 , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 19,600 . If the price reaches 19,188 , and stabilizes below it, it will likely attempt to reach support level (2) .
support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 18,747 . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 18,337 .
Resistance Level (1): As long as the price remains above the turning level of 19,600 , it suggests a rising towards 20,234 . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2).
Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 20,553 . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 20,793 .
Channel Trend: breakout descending channel .
TARGET LEVEL :
RESISTANCE LEVEL : 20,234 , 20,553 , 20,793 .
SUPPORT LEVEL : 19,188,18,747 , 18,337 .
PEPEUSD / UNDER UPWARD PRESSURE - 4H PEPEUSD - 4H TIME FRAME
HELLO TRADER S
Tendency , prices is under upward pressure , until trading above turning level at 0.000007
Upward Condition : The price is currently showing bullish momentum. As long as it stays above the turning level of 0.000007 , it is likely to move upward toward the resistance levels at 0.000008 and then 0.000009 .
Downward Condition : To reach the 0.000006 support level (1) , the price needs to first break the turning level by closing a 4-hour candle below 0.000007 . If it stabilizes below support level (1) , a further decline toward the support level (2) at 0.000005 can be anticipated .
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 0.000008 .
RESISTANCE LEVEL (2) : 0.000009 .
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 0.000006 .
SUPPORT LEVEL (2) : 0.000005 .
TURNING LEVEL : 0.000007 .
BCHUSD / INSIDE ACCOMULATION ZONE - 4HBCHUSD - 4H TIME FRAME
HELLO TRADERS
Tendency , prices is under upward pressure , until trading above turning level at 322.79
Upward Condition : If the price remains stable at the turning level at 322.79 , it is expected to rise toward the resistance level of 355.50 . Should it hold above this level, a tend to further rise to reach resistance level at 400.97 .
Downward Condition : To reach the289.29 support level (1) , the price needs to first break the turning level by closing a 4-hour candle below 322.797 . If it stabilizes below support level (1) , a further decline toward the support level (2) at 264.16 can be anticipated .
TARGET UPWARD ZONE :
RESISTANCE LEVEL (1) : 355.50 .
RESISTANCE LEVEL (2) : 400.97 .
TARGET DOWNWARD ZONE :
SUPPORT LEVEL (1) : 289.29 .
SUPPORT LEVEL (2) : 264.16 .
TURNING LEVEL : 322.79 .
GOLD ROUTE MAP UPDATEHey Everyone,
Another PIPTASTIC day on the charts today with our analysis playing out perfectly.
After hitting targets yesterday we stated that we were seeing 2500 Goldturn providing support, which will likely follow with the upper levels being retested. We got the 2509 and 2519 re-tested, as analysed and then another rejection now into 2500 again. No ema5 cross and lock below 2500 provided support once again with the perfect bounce into 2509.
We are now seeing a range being established between 2500 and 2519/2533 and will need to see ema5 cross and lock on either weighted support or resistance level to determine the next move.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2509 - DONE
EMA5 CROSS AND LOCK ABOVE 2509 WILL OPEN THE FOLLOWING BULLISH TARGET
2519 - DONE
POTENTIALLY 2533
BEARISH TARGETS
2500 - DONE
EMA5 CROSS AND LOCK BELOW 2500 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2488 (DONE) - 2472
EMA5 CROSS AND LOCK BELOW 2472 WILL OPEN THE SWING RANGE
SWING RANGE
2458 - 2446
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
GOLD ROUTE MAP UPDATEHey Everyone,
Another great day on the charts today with our analysis playing out perfectly.
Yesterday after hitting the retracement range we got the bounce and advised that it was heading for 2509.
- 2509 was hit perfectly followed with cross and lock opening 2519 and potentially 2533, should momentum allow. 2519 was also hit today and upto 2532 slightly short of 2533. Just beautiful how the analysis played out.
We are now seeing 2500 Goldturn provide support and will like to see new the upper levels retested. Failure to break into 2533 will follow with a stronger rejection. We are likely to see price range between these weighted levels to establish a range before breaking out. We will confirm the breakout with our cross and lock strategy above or below the weighted levels to confirm direction.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2509 - DONE
EMA5 CROSS AND LOCK ABOVE 2509 WILL OPEN THE FOLLOWING BULLISH TARGET
2519 - DONE
POTENTIALLY 2533
BEARISH TARGETS
2500 - DONE
EMA5 CROSS AND LOCK BELOW 2500 WILL OPEN THE RETRACEMENT RANGE
RETRACEMENT RANGE
2488 (DONE) - 2472
EMA5 CROSS AND LOCK BELOW 2472 WILL OPEN THE SWING RANGE
SWING RANGE
2458 - 2446
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
XAGUSD / GENERALLY PRICES UNDER BULLISH PRESSURE - 4HXAGUSD
HELLO TRADERS
Tendency , the price is under bullish pressure , until trading above turning level at 28.58 .
Turning Level: The price is currently trading above this level around 28.58 . As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected.
support Level (1) : around 27.80 , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 28.58 . If the price reaches 27.80 , and stabilizes below it, it will likely attempt to reach support level (2) .
support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 27.08 . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 26.44 .
Resistance Level (1): As long as the price remains above the turning level of 28.58 , it suggests a rising towards 29.56 . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2).
Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 30.75 . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 31.64 .
Channel Trend: the prices trading rate within the descending channel .
TARGET LEVEL :
RESISTANCE LEVEL : 29.56 , 30.75 , 31.64 .
SUPPORT LEVEL : 27.80 , 27.08 , 26.44 .
BITCOIN / UNDER BULLISH PRESURE - 4HBITCOIN
HELLO TRADERS
Tendency , the price is under bullish pressure , until trading above turning level at 55,101 .
Turning Level: The price is currently trading above this level around 55,101 . As long as it remains stable and stays above this level, a rising toward the resistance level (1) is likely . However, if the price breaks under this level and a 4-hour candle closes below it, an downward move toward the support level (1) can be expected.
support Level (1) : around 51,322 , The price is currently above turning level . To reach this level, the price needs to break and close a four-hour candle below the turning level at 55,101 . If the price reaches 51,322 , and stabilizes below it, it will likely attempt to reach support level (2) .
support Level (2): When the price breaks through support Level (1) and closes a 4-hour candle below it, this suggests it could reach around 47,703 . To confirm an downward , the price needs to reach this level before moving on to support Level (3) at 44,845 .
Resistance Level (1): As long as the price remains above the turning level of 55,101 , it suggests a rising towards 61,267 . If the price reaches this level and stabilizing above it, it will likely attempt to reach resistance Level (2).
Resistance Level (2): When the price breaks through resistance level (1) and closes a 4-hour candle above it, this suggests it could reach around 65,742 . To confirm an uptrend , the price needs to reach this level before climb on to resistance Level (3) at 69,670 .
Channel Trend: the trading rate within the descending channel .
TARGET LEVEL :
RESISTANCE LEVEL : 61,267 , 65,742 , 69,670 .
SUPPORT LEVEL : 51,322 , 47,703, 44,845 .