4hr chart. UTC+1
Using Fractiles to get lows and highs.
Fib fan drawn from low Wed 18 Jan 17:00 to high Thurs 16 Jan 17:00. Levels seem to have confluence with price action.
Support lines building up to initial Pennant.
- Draw a trend line from low Sat 11 Feb 17:00 to low 17 Feb 01:00 and change setting to Extend the right line.
- Draw a trend line from high Thurs 16 Feb 17:00 to high Fri 17 Feb 21:00 and change setting to Extend the right line.
The intersecting point create a Pennant formation which can be seen highlighted. 24,400 seems like a hidden daily which interests me as it has not been tested much. It seems the initial breakout was a fakeout. I Interesting to see if the price can breakout again.
Yellow line above for reference is vWap. In case you are wondering about the yellow line.
Note: * When in an uptrend, above 0.382 Fib is bullish.
Using Fractiles to get lows and highs.
Fib fan drawn from low Wed 18 Jan 17:00 to high Thurs 16 Jan 17:00. Levels seem to have confluence with price action.
Support lines building up to initial Pennant.
- Draw a trend line from low Sat 11 Feb 17:00 to low 17 Feb 01:00 and change setting to Extend the right line.
- Draw a trend line from high Thurs 16 Feb 17:00 to high Fri 17 Feb 21:00 and change setting to Extend the right line.
The intersecting point create a Pennant formation which can be seen highlighted. 24,400 seems like a hidden daily which interests me as it has not been tested much. It seems the initial breakout was a fakeout. I Interesting to see if the price can breakout again.
Yellow line above for reference is vWap. In case you are wondering about the yellow line.
Note: * When in an uptrend, above 0.382 Fib is bullish.