Midterm forecast: While the price is above the support 0.9105, resumption of uptrend is expected. We make sure when the resistance at 0.9775 breaks. If the support at 0.9105 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis: While the RSI support #1 at 36 is not broken, the probability of price decrease would be too low. A peak is formed in daily chart at 0.9475 on 02/27/2019, so more losses to support(s) 0.9380, 0.9325, 0.9270 and minimum to Major Support (0.9105) is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 50.
Trading suggestion: There is possibility of temporary retracement to suggested Buy Zone (0.9380 to 0.9325). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone. We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (0.9380) Ending of entry zone (0.9325)
Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons: Trade Setup: We opened 8 BUY trade(s) @ 0.9441(day close price) based on "Valley" entry method at 02.14.2019.
@ForecastCity, I just am a confused about several things. For instance, it's in your TA that" While the price is above the support 0.9105, resumption of uptrend is expected. " does it mean that we should expect the price will drop to 0.9105? if it's so why the buy zone is at (0.9380 to 0.9325)?