BCH SHOULD TOUCH A RESISTANCE BEFORE THE FINAL MOVE UP OR DOWN
::THIS GOLDEN LiNE iS A WATER LiNE BETWEEN PREVIOUS SUPPORT AND CURRENT RESISTANCE
::IF WE BREAKOUT ABOVE THiS GOLDEN LiNE
::WE MAY EXPECT I LITTLE MOVE UP TO TOUCH THE STRONGER LEVEL OF RESISTANCE
PROS::
1. PRICE BOUNCED FROM A LONGTERM SUPPORT
2.OBV BOTTOMED AND FORMED A VALLEY
3. I EXPECT THE PRICE TO AT LEAST TOUCH PREVIOUS LEVEL OF SUPPORT BEFORE WE CONTINUE GOING LOWER (IF WE DO)
4. IT WAS EXPECTED PULLBACK
5. PHOENIX INDICATOR BULLISH 1H AND CURVED UP AT 3H,4H,8H
CONS::
1.WE MAY GO LOWER TO TOUCH THIS SUPPORT LiNE AGAIN
2. PHOENIX IS BEARISH ON THE DAILY
3. FALSE BREAKOUT MIGHT TRIGGER MY ORDER
OVERALL:: NICE SHORT TERM SETUP
RIGHT NOW WE ARE iN A PIVOT POINT BETWEEN BEARISH AND BULLISH LONG TERM TRENDS
::IF WE BREAKOUT ABOVE THiS GOLDEN LiNE
::WE MAY EXPECT I LITTLE MOVE UP TO TOUCH THE STRONGER LEVEL OF RESISTANCE
PROS::
1. PRICE BOUNCED FROM A LONGTERM SUPPORT
2.OBV BOTTOMED AND FORMED A VALLEY
3. I EXPECT THE PRICE TO AT LEAST TOUCH PREVIOUS LEVEL OF SUPPORT BEFORE WE CONTINUE GOING LOWER (IF WE DO)
4. IT WAS EXPECTED PULLBACK
5. PHOENIX INDICATOR BULLISH 1H AND CURVED UP AT 3H,4H,8H
CONS::
1.WE MAY GO LOWER TO TOUCH THIS SUPPORT LiNE AGAIN
2. PHOENIX IS BEARISH ON THE DAILY
3. FALSE BREAKOUT MIGHT TRIGGER MY ORDER
OVERALL:: NICE SHORT TERM SETUP
RIGHT NOW WE ARE iN A PIVOT POINT BETWEEN BEARISH AND BULLISH LONG TERM TRENDS
Comment:
ENTERED A TRADE AT 215.2 , I PLAN TO SPEND ANOTHER $1000 TO BUY AT 214 IF THE PRiCE GO LITTLE BiT LOWER. MY SL iS 211,3 LESS THAN 2%. WILL SEE HOW THAT SETUP WILL WORK
Comment:
SL MOVED TO BREAK EVEN, IT'S IMPOSSIBLE FOR ME TO LOOSE iN THiS RADE
Comment:
SL FINiSHED