Hello traders .
if you are already follow me must known , I talked about SOL last weeks and published many updates about sol and now SOL is on fire !!
but for now we have another great buy opportunity created by BAL , let's start with weekly time frame :
As you can see if we draw fib retracement tool from the bottom of the previous bull run up to the top ; we can clearly see price already above the on of the most popular fib level at 0.786 which shown by the red box . but let's zoom in to find out more details :
here is the daily chart :
w pattern is the famous reversal pattern it's means that if you saw this pattern in the important support levels , there is high chance to take off from that level and pretty much see big pump.
BAL already breaks the neck line of the w pattern and now test it as an great support level ; the overall trend is bullish so it's make sense to open long position above the neck line which is important weekly support.
here we have 4H chart :
in the 4H chart we can see minor w patterns try to forming above the neck line and Honestly this is good sign for the BAL.
and also we have solid 4H trend line which is shown by the yellow line .
finally I can say all things is good for BAL and maybe this is another SOL.
I hope you enjoyed this analysis.
Do not forget to like and subscribe
share my ideas with your friends , thanks for watching my ideas
if you are already follow me must known , I talked about SOL last weeks and published many updates about sol and now SOL is on fire !!
but for now we have another great buy opportunity created by BAL , let's start with weekly time frame :
As you can see if we draw fib retracement tool from the bottom of the previous bull run up to the top ; we can clearly see price already above the on of the most popular fib level at 0.786 which shown by the red box . but let's zoom in to find out more details :
here is the daily chart :
w pattern is the famous reversal pattern it's means that if you saw this pattern in the important support levels , there is high chance to take off from that level and pretty much see big pump.
BAL already breaks the neck line of the w pattern and now test it as an great support level ; the overall trend is bullish so it's make sense to open long position above the neck line which is important weekly support.
here we have 4H chart :
in the 4H chart we can see minor w patterns try to forming above the neck line and Honestly this is good sign for the BAL.
and also we have solid 4H trend line which is shown by the yellow line .
finally I can say all things is good for BAL and maybe this is another SOL.
I hope you enjoyed this analysis.
Do not forget to like and subscribe
share my ideas with your friends , thanks for watching my ideas