1. Price is trending within the down channel perfectly.
2. Purple color:
The price broke below the horizontal support of the ranging zone (0 to 1).
And using the 1:1 ratio strategy, TP price is expected at the next 100% level (level 2).
3. On the way to level 2, we may want to pay attention to level 1.5, where the level could be a horizontal support.
4. Orange color - another strategy to use in this scenario: Down "N" strategy:
Key move --> rebounce --> (following an N pattern)
After breaking the purple ranging zone 0 to 1 (the rebounce), the market would be highly likely to repeat the key movement (the orange force). Therefore, the bottom of the orange box could also be a strong support.
**Not Financial Advice**
The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
2. Purple color:
The price broke below the horizontal support of the ranging zone (0 to 1).
And using the 1:1 ratio strategy, TP price is expected at the next 100% level (level 2).
3. On the way to level 2, we may want to pay attention to level 1.5, where the level could be a horizontal support.
4. Orange color - another strategy to use in this scenario: Down "N" strategy:
Key move --> rebounce --> (following an N pattern)
After breaking the purple ranging zone 0 to 1 (the rebounce), the market would be highly likely to repeat the key movement (the orange force). Therefore, the bottom of the orange box could also be a strong support.
**Not Financial Advice**
The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.