The price might be moving in a Channel (upwards).
To confirm this bullish scenario, we need second a confirmation of the Support Line of the Channel.
This is where our potential Buy Zone is located: 8450.00 - 8550.00
I'm using a fractal of the past hours to show you where this move could take us.
Our Target is located at the Resistance Line of the Channel: 8920.00 - 9020.00
But first the price has to push through the Resistance Zone between 8600.00 - 8800.00 with high volume (like yesterday).
We might consider to close our position at the target because we have another
strong Resistance (horizontal) located at 9200.00. Most of the early buyers will take their profits here (Including us!).
The Bollinger Bands are tightening, which means there's a breakout in the making.
Potential MACD bullish cross above 0 (confirming the uptrend) in the next 3 to 4 hours.
The RSI STEP TREND is cooling off, which is necessary for a big move.
Be patient and wait for confirmations!
I will update this chart accordingly.
THANKS! For all the positive feedback im receiving lately.
Leave a thumbs up if you like this idea and Follow me for more updates!
Disclaimer:
Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Idea are provided as general market information for educational and entertainment purposes only
To confirm this bullish scenario, we need second a confirmation of the Support Line of the Channel.
This is where our potential Buy Zone is located: 8450.00 - 8550.00
I'm using a fractal of the past hours to show you where this move could take us.
Our Target is located at the Resistance Line of the Channel: 8920.00 - 9020.00
But first the price has to push through the Resistance Zone between 8600.00 - 8800.00 with high volume (like yesterday).
We might consider to close our position at the target because we have another
strong Resistance (horizontal) located at 9200.00. Most of the early buyers will take their profits here (Including us!).
The Bollinger Bands are tightening, which means there's a breakout in the making.
Potential MACD bullish cross above 0 (confirming the uptrend) in the next 3 to 4 hours.
The RSI STEP TREND is cooling off, which is necessary for a big move.
Be patient and wait for confirmations!
I will update this chart accordingly.
THANKS! For all the positive feedback im receiving lately.
Leave a thumbs up if you like this idea and Follow me for more updates!
Disclaimer:
Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Idea are provided as general market information for educational and entertainment purposes only
Comment:
Idea updated:
I will update this idea shortly