As we can see, the price has reached the bottom of a tested and tried support zone, we are seeing a loss in momentum of the downtrend move and on market cipher on the 4HR there is a buy signal formed. On the other hand if we see a break of this support zone it will do one of 2 things, Wik out and therefore reject the support zone or it will close below this level and therefore it will continue the downtrend. Let me know what you guys think!.
interesting use of the 30 ma what's the reasoning behind it?
CrazyTrader77
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@Ryecatcher, I use the 30 to show me when price might be retracing back closer to the 200ma. If i see a large momentum cross of the 30 after a reversal charting pattern this is a good indication price will come back to the 200MA