Hi. In this 1D chart I've marked an impending Golden Cross: the point where a MA 56 is very likely to cross a MA 224 upwards.
With this I've also plotted out a Resistance zone and a Support zone. The price has just entered the Resistance zone but instead of turning back this time the momentum of the Golden Cross should push it past the Resistance zone.
I've also included two example trades. One has its SL placed on the price of the Golden Cross and then given a ratio of two to make a reasonable TP.
The other has its SL placed on the top line of the Support zone and given a ratio of 1.75 to make a more conservative long position and keep the TP within a reasonable price.
Thank you. Please, if you have any thoughts or comments do leave them below and I would gladly discuss or adjust my interpretations and methods with you.
This does not constitute financial advice. Any projected prices, even if explicitly stated, are made with intent to discuss the symbol and potential interpretations. Any trades shown or mentioned are examples and neither recommendations or mandates.
With this I've also plotted out a Resistance zone and a Support zone. The price has just entered the Resistance zone but instead of turning back this time the momentum of the Golden Cross should push it past the Resistance zone.
I've also included two example trades. One has its SL placed on the price of the Golden Cross and then given a ratio of two to make a reasonable TP.
The other has its SL placed on the top line of the Support zone and given a ratio of 1.75 to make a more conservative long position and keep the TP within a reasonable price.
Thank you. Please, if you have any thoughts or comments do leave them below and I would gladly discuss or adjust my interpretations and methods with you.
This does not constitute financial advice. Any projected prices, even if explicitly stated, are made with intent to discuss the symbol and potential interpretations. Any trades shown or mentioned are examples and neither recommendations or mandates.