In the range of $11, it has the support of the channel line and the 50% Fibonacci retracement in the log chart. what's your opinion?
What is your opinion? Which scenario do you consider more likely? comment please.
The currency is approaching a strong support level and there is a possibility that the correction in this range will be completed. It is better to keep in mind that we may even see a fake break in this range, but overall, this range could be a turning point for the AXS price. Break of the bearish channel and stabilization of the price above the Ret 61.8 resistance...
According to the wave count, it is possible that the W2 wave is over; In this case, we can expect the formation of W3 wave. In case of deeper correction, the level of 61.8 Ret-Fibo can be considered as a support range.
Following the previous analysis of this currency pair, it seems that sub-wave 4 from wave 3 is completing as a triangle, and in the near future there is a possibility of the formation of sub-wave 3 from wave 5.
According to the wave count in the previous analysis, it is expected that the specified ranges can support the continuation of the uptrend. It is currently seen that the last candle has broken its first support range (Ret 38.2). Now we have to wait and see how the daily candle will close, below or above it? If it returns above the 38.2 range, there is a...
If it succeeds in breaking the resistance range, it can reach the mid-line of bigger channel. This analysis is valid as long as the price does not exit from channel and exit from it can be considered as stop loss.
It forms the triangle pattern. If the top line of the triangle breaks, we expect to reach the specified targets. But, if it breaks the bottom line, Must be out of position by stop loss.
The specified price range is strong support and can be attractive to buy.
After forming a triangle it breaks its top line, and until it not returns to the inside of the triangle, there is a possibility of pullback to the broken line.
Caution is required in trades. There is a possibility of forming an "Ending Diagonal" pattern.
The down-trend is broken with high volume and a strong bullish candle, and there is currently a possibility of a pullback to the broken trend line. In this case, the specified range may be the most suitable range to buy. Stabilization below this range and reversal below the downtrend line can be considered as stop loss.
ONT After breaking its down-trend by wave (3), it pullback to the same broken trend in the form of wave (4) and is now forming its next wave. The price of 1.6 to 1.8 is a strong resistance for this currency. If it can cross this range with high power and volume and pullback on it, we can consider the started wave as a sub-wave of 3 from wave (3). By examining the...