If we are - and i very much think we do- at the start of the uptrend we can make lots, and lots of pips.!
Here's why, the higher of the BB% is almost being touched with an almost oversold . The same place was back in the 99's 00's at an overbought spot but now it is heading to oversold.The last monthly candle has a very large shadow that means lots of people are intrested in buying
But even more remarkable and really worth noticing on this chart/idea is the correlation of the 0.618's. in supp/resistance and its highs and lows. This monthly chat goes way back and moves in a really easy tradable pattern. The connection of all the highs and lows with the golden fibs, and targets gives me much more confidence in this trade than all the indicators together. I will keep this chart as updated as possible!
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