Yellow circled is vital area for price action
It could be fake resistance breakout. Or going to moon.
To take entry:- Confirm with candle stick (Doji/Hammer or Engulfing)
Stop/Loss is very important!!!!
DYOR.
Let the price to retest at Trendline
And wait for the candle sticks full green candle or hammer
Sync MACD and RSI level if possible.
Not a Advice just a sharing …..
NASDAQ:MNTV
There is a strong base for support zone in weekly timeframe.
Looking into 1D or 4 Hrs time frame, Symmetrical triangle formed and broke above trend line and last high. At the same time it could be the consolidation area.
So If the price break a above it’s time to go long.
RSI showing strength as well.
(It is just my analysis not a advice.)
THANK YOU.
1 Day timeframe:- Rising wedge
4 Hours timeframe:- Consolidation (support zone)
BB:- Previous 2,3 candles are outside of lower line
Setup:-
Go long after breakout of CONSOLIDATED ZONE and Gap window get filled.
After the sharp downfall, there’s a series of HH. In 1 day or 4 hr time frame the price is consolidating at support zone.
If the price break above that consolidated area there is a chance to see another HH.
