Timeframes used: 1h and 15m
Reasons to Small Long:
- The price has rebounded slightly from the 1017 price level on the 1-hour timeframe after easily dropping below the lower channel of the purple and orange channels within a day, continuing to maintain the weakening laddering up structure.
- While the 1-hour MACD gives a strong sell signal with the increasing...
Timeframe used: 15m
Reasons to Long:
- Price has retested the 1033 level twice (Fibo retracement 0.236 and former resistance level that took multiple days to break through)
- Maintaining the laddering up structure
- Staying above the median line of the orange channel after breaking through 1033, indicating relatively strong price momentum
- Price has retested the...
Timeframes used: 1h and 15m
Reasons to Ready to Long:
- Price failed to break above the 65 level, fell back into the orange channel, retested the 55 level (support, former fibo 0.382 and median line of the purple channel) and failed, pulling back to the 44 level (resistance and median line of the orange channel)
- Maintaining the laddering up structure on the 33...
