Support and Resistance breakout box (Prototype)
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Pretty self explanatory, uses simple support and resistance as well as time resistance which influences the box's size. The time resistance zone is an area that we should see either a strong move, reversal, or even breakout. Either way this should be an interesting experiment.
We can honestly go either way, up because a golden cross looks to be occurring on the 4h, down because we got rejected off of resistance. Personally, I predict we'll break downward back the weekly 200MA or lower.
We can honestly go either way, up because a golden cross looks to be occurring on the 4h, down because we got rejected off of resistance. Personally, I predict we'll break downward back the weekly 200MA or lower.
Note
Looks like we broke out right at the time resistance zone.
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