We are in a falling wedge (light blue lines) which is a bullish reversal pattern.
its pretty simple, if we break out and close above the blue line then we will most likely test the next resistance trend line (yellow) at around 8200. In my opinion, if we reject from the blue trend line, a lower low is incoming and a similar reaction will happen if we cant break through the yellow resitsance. IF we do break and close above both, Buying pressure will be unavoidable and will be off to the races for the near future.
Every trendline in this chart acts either as support or resistance. Use them as targets.
=D
its pretty simple, if we break out and close above the blue line then we will most likely test the next resistance trend line (yellow) at around 8200. In my opinion, if we reject from the blue trend line, a lower low is incoming and a similar reaction will happen if we cant break through the yellow resitsance. IF we do break and close above both, Buying pressure will be unavoidable and will be off to the races for the near future.
Every trendline in this chart acts either as support or resistance. Use them as targets.
=D
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here's a close up on the 4 hour
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Diamond reversal?
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looking good, ladies and gents
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Hope y’all made some money off this diamond bottom!!!!!