Short AZN
TA:
More accurate signal to enter the trade can be a breakdown of the support zone highlighted in blue.
When analyzing the situation of the graph behavior from 13.10.20-18.10.20, I can notice a pattern/shape/combination of "W" or rather one of its subspecies, in the case of NG1! a similar pattern was considered, but in this case we have a picture with a different combination of lows in "W", now the first and third lows are lower than the second, as the highs of this pattern are decreasing, in general, I can interpret this pattern/combination as a weakening of buyers and strengthening of sellers, i.e. a drop in price. You can also notice from 27.05.20 to 18.12.20 a change in the location of min/max, after setting the ATH, the lows and highs became lower each time than the previous ones.
I also noticed the similarity of the two movements, the current one from 30.04.20 - (not defined) and 28.10.19-10.03.20, the first movement is less dynamic than the current one, but creates the same combinational dynamics of price movement that can already be compared with the current ones and notice their similarity, as a result of which I can conclude that the price will continue to go along this combination of dynamics (the big March collapse is not included) (Screenshot attached).
The RSI shows price support at this level (highlighted in blue), but this support is weak, the RSI is more likely to fail.
The take level is determined through a combination of three Fibonacci levels, global, local and fibo to determine the possible price (Screenshot attached).
On the chart, I selected 2 trend levels (lines). Global and local formed by the maximum of the price and the maximum of the combination "W".
The local trend line can be used as a resistance line at the breakdown of which you can consider the closing of the transaction on the stop (I note that you can draw a line not on the second but on the first maximum "W", this option is also possible). There is a possibility of a final test of the trend level, after which the fall will continue.
The result of a downtrend can be a test of the global trend support level, so there is a possibility of the price falling below the take level (this option is not considered) (Screenshot attached).
The stop loss level is defined by the red zone created using two fibonacci levels and the local trend level.
Take level - green zone.
Stop-loss - the red zone.
TA:
More accurate signal to enter the trade can be a breakdown of the support zone highlighted in blue.
When analyzing the situation of the graph behavior from 13.10.20-18.10.20, I can notice a pattern/shape/combination of "W" or rather one of its subspecies, in the case of NG1! a similar pattern was considered, but in this case we have a picture with a different combination of lows in "W", now the first and third lows are lower than the second, as the highs of this pattern are decreasing, in general, I can interpret this pattern/combination as a weakening of buyers and strengthening of sellers, i.e. a drop in price. You can also notice from 27.05.20 to 18.12.20 a change in the location of min/max, after setting the ATH, the lows and highs became lower each time than the previous ones.
I also noticed the similarity of the two movements, the current one from 30.04.20 - (not defined) and 28.10.19-10.03.20, the first movement is less dynamic than the current one, but creates the same combinational dynamics of price movement that can already be compared with the current ones and notice their similarity, as a result of which I can conclude that the price will continue to go along this combination of dynamics (the big March collapse is not included) (Screenshot attached).
The RSI shows price support at this level (highlighted in blue), but this support is weak, the RSI is more likely to fail.
The take level is determined through a combination of three Fibonacci levels, global, local and fibo to determine the possible price (Screenshot attached).
On the chart, I selected 2 trend levels (lines). Global and local formed by the maximum of the price and the maximum of the combination "W".
The local trend line can be used as a resistance line at the breakdown of which you can consider the closing of the transaction on the stop (I note that you can draw a line not on the second but on the first maximum "W", this option is also possible). There is a possibility of a final test of the trend level, after which the fall will continue.
The result of a downtrend can be a test of the global trend support level, so there is a possibility of the price falling below the take level (this option is not considered) (Screenshot attached).
The stop loss level is defined by the red zone created using two fibonacci levels and the local trend level.
Take level - green zone.
Stop-loss - the red zone.
Comment:
Screenshot.
The use of two trend levels.
1 - The resistance level of the local trend.
2 - The level of support for the global trend.
The red zone is formed behind the local level (you can use the construction of the previous maximum "W").
The green zone is located above the global support.
The use of two trend levels.
1 - The resistance level of the local trend.
2 - The level of support for the global trend.
The red zone is formed behind the local level (you can use the construction of the previous maximum "W").
The green zone is located above the global support.
Comment:
Screenshot.
Using speaker combinations of similar situations.
Using speaker combinations of similar situations.
Using three fibonacci tools.
1 - Fibo to determine the possible price.
2 - Global fibonacci levels.
3 - Local fibonacci levels.
Red and green zones are zones formed by a combination of fibonacci levels.