Hello Traders,
The situation on the market is clear. Price is moving between 51500 and 47530. Momentum is in the sell zone but is very weak. I will not recommended to sell yet. Keep in mind that situation could be temporary and change any time. Candlestick indicate that we have temporary support on 47530 level (not a zone) and it’s mark on close/open price - grey rectangle).
Red vertical line indicate future price change direction. This one of my fevered techniques.
When the price reach vertical line price should change direction - if it’s low then will go high, if it’s high then should drop.
If the price start getting higher then we have resistance on 49211. Remember that Dojo is always support/resistance level.
Cheers,
Jim
The situation on the market is clear. Price is moving between 51500 and 47530. Momentum is in the sell zone but is very weak. I will not recommended to sell yet. Keep in mind that situation could be temporary and change any time. Candlestick indicate that we have temporary support on 47530 level (not a zone) and it’s mark on close/open price - grey rectangle).
Red vertical line indicate future price change direction. This one of my fevered techniques.
When the price reach vertical line price should change direction - if it’s low then will go high, if it’s high then should drop.
If the price start getting higher then we have resistance on 49211. Remember that Dojo is always support/resistance level.
Cheers,
Jim
Comment:
Price stop at support 45595 with Doji, confirm with following candle at the close price is another long trade. Perfect stop
Comment:
This current situation. What happened outside rectangle.
Cheers,
Jim