This is just a downtrend line on 1D log chart. Keep an eye for either a break up or downtrend cont. after this line is touched. Of course, break up = buy in slowly with a stop loss. A drop = Stay away till the downtrend resistance is broken.
Any reason to prefer the log chart over standard? Looking at the downward channel on the non-log I would anticipate a breakout at 7890 which is also the level of key resistance
DCFreak
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@MaurikWillemse, Look up Log vs Linear Technical analysis for charts and you will find all you need to know.
Damians
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I just missed to place a long, should I put a fomo trade now, or wait ...
DCFreak
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@Damians, up to you man, can't take the risk of making such decision for someone.