USING FIBONACCI, X1 TO X2 = 100% X3 = (X1 TO X2)/2 = 50% X4 = X3 + 100% = 150% X3 TO X4 = 100% GOING UP
IT IS PART OF A MAJOR UPTREND IT IS AT THE SUPPORT PREVIOUS MONTH REJECTED SELL, SO AS SOON AS THE CANDLE OF THIS MONTH REJECTS SELL TOO AND TURNS GREEN TAKE A BUY
USING RENKO, IT SHOWS A MINOR UPTREND AND THE PREVIOUS MONTH CANDLESTICK REJECTED A SELL AT THE SUPPORT OF THE MINOR TREND IT IS AN UPTREND
THE PREVIOUS MONTH CANDSTICK REJECTED A SELL THIS MONTH OWN WILL SOON TURN TO A GREEN CANDLESTICK IT IS PART OF A MAJOR UPTREND
USING RENKO MONTHLY , IT IS A BIG DOWNWARD TREND BUT HAS NOT GOTTEN TO THE RESISTANCE IT IS SHOWING A NGREEN CANDLE STICK FOR THIS MONTH, IN WHICH THE MONTH IS STILL EARLY UPTREND.
USING THE RENKO, IT IS STILL PART OF A BIGGER DOWNWARD CHANNEL USING WAVE ANALYSIS IT IS GOING FOR AN UPTREND TILL IT REACHES THE MAJOR RESISTANCE UPTREND THIS MONTH IS ALSO A GREEN CANDLESTICK
USING MONTHLY RENKO, IT SHOWS A LOT OF SIGNS OF AN UPTREND 1ST IT IT PART OF A LARGE DOWNWARD TREND BUT HAS NOT REACHED THE RESISTANCE 2ND = IT BROKE PART OF AN DOWNWARD TREND RETESTED AND STARTED GOING UP 3RD THIS MONTHLY CANDLESTICK IS A GREEND CANDLESTICK 4TH = IT BROKE THROUGH THE 200 M,A AND GOING TO BREAKE THROUGH THE 100, THE 100 M.A IS FAR ABOVE THE 200...
USING RENKO, IT SHOWS THE DOWNTREND IS PART OF A MAJOT UPTREND AND IS ALREADY LOOKING TO BOUNCE BACK UP TO START AN UPTREND. IT HAS ENTERED THE AREA OF VALUE SO WHEN IT BREAKS THE MAJOR SUPPORT LINE THERE IS A SELL STOP ORDER (RED LINE) THERE AND WHEN IT DECIDES TO GO UP, THERE IS A BUY STOP ORDER (GREEN LINE) THERE USING ATR LEVELS FROM RENKO YPU SHOULD WAIT FOR...
USING RENKO WITH ATR LEVELS COMBINED WITH RELATIVE STRENGTH INDEX, IT IS OVERSOLD BELOW 30. IT IS LIKELY TO BREAK THE MAJOR TRENDLINE RESISTANCE AND START AN UPWARD TREND BUT JUST INCASE THE GREEN LEVEL LINE ABOVE THE WAVE IS BUY STOP USING ATR LEVEL INCASE IT GOES UP THEN THE SELL STOP IS THE RED LINE BELOW TO CONTINUE TREND.
USING RENKO (ATR LEVELS) , THE WAVE BROKE OUT FROM A DESCENDENG WAVE IT MIGHT TRY TO RETRACE A BIT BECAUSE OF THE RESISTANCE ABOVE BUT WILL DEFINATELY BREAK OUT THE MOVING AVERAGES SIGNIFY AN UPTREND
USING RENKO I IDENTIFIED MAJOR SUPPORT LEVELS THE 50 AND 100 M.A IS ABOVE THE 200 WHICH MEANS AN UPTREND IT HAS HIT ITS MAJOR TRENDLINE SUPPORT AND PREICE REJECTION IS OCCURING. MAJOR CHNAGE IN TREND USING RENKO AND ATR LEVELS THE GREEN HORIZONTAL LINE SIGNIFIES A BUY STOP THE RED HORIZONTAL LINE SIGNIFIES A SELL STOP
THE XAU IS BULLISH CONFIRMATION USING RENKO WHEREBY BRICKS ARE IN ATR (AVERAGE TRUE RANGE) THE DOWNWARD TREND HAS HIT THE 50 M.A WHICH IS MEANT FOR PULLBACKS THE 50 M.A IS FAR ABOVE THE 100 M.A WHICH SIGNIFIES AN UPTREND
IT HAS THREE SUPPORT LEVELS 1ST = TRENDLINE SUPPORT 2ND = HORIZONTAL LINE SUPPORT 3RD = DESCENDING CHANNEL SUPPORT SUMMARY = BULLISH
Using Fibonacci, the downtrend bounced back at the 50% using price rejection of the red candlestick with a long down wick. The green candlestick will form a bullish engulfing pattern which is a stronger confirmation of a buy rather than a piercing pattern Using the 21, 50 and 100 moving average The 50 above the 100 signify an uptrend The 21 A.k.a golden...
RSI IS ABOVB 69...GOING FOR OVERBOUGHT. DECLINE WILL HIT FIRST TAKE PROFIT IT WILL FURTHER GO DOWN TO A MAJOR DECLINE AFTER BREAKING BIG CONFIRMATION SUPPORT. DISTRIBUTION PHASE WILL SOON BE OVER DECLINING PHASE WILL OCCUR. ANALYSIS USING ATR
USING ATR (AVERAGE TRUE RANGE), SELL IS ACTIVATED AT THE SELL STOP VALUE. IT'S CURRENTLY DOING A DISTRIBUTION. A DECLINING STAGE WILL BE ACTIVATED AT THAT ATR VALUE