The dip from last night has reached the 0.382 Fib Retracement Level, a level of common price reversal.
Price continues to descend in the falling wedge pattern formation.
A re-test of the support level may be in the works now as price has hit the resistance level of the wedge.
If price bounces off the support level, it is expected for price to go further upwards to finally break out of this tightening wedge.
If price breaks the support level, another price dip may ensue.
RSI has a Bullish Divergence. Bullish Divergences must be fulfilled no matter what. It will be fulfilled any time now.
Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
Price continues to descend in the falling wedge pattern formation.
A re-test of the support level may be in the works now as price has hit the resistance level of the wedge.
If price bounces off the support level, it is expected for price to go further upwards to finally break out of this tightening wedge.
If price breaks the support level, another price dip may ensue.
RSI has a Bullish Divergence. Bullish Divergences must be fulfilled no matter what. It will be fulfilled any time now.
Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
Commentaire:
Price broke down through support.
Commentaire:
Support Failed.
Commentaire:
This dip was nasty, but the Bullish Divergence on the RSI is still valid.
Commentaire:
Support Level Relocated. This will have to be re-tested again.
RSI Bullish Divergence is still valid.
RSI Bullish Divergence is still valid.
Commentaire:
Support now being Re-tested.
Commentaire:
The Calm Before The Storm.
Chart now has Conglomeration Of Bullish Signals.
Chart now has Conglomeration Of Bullish Signals.
