The market has potential for further falling to 8000.00 support level. This level forms with the uptrend line a strong support zone. If the price breaks 8500.00 level and moves lower, a reversal signal from the support zone will give a buy opportunity. Staying above the trend line will be important for further development of the uptrend. If the price drops below the support zone, we’ll see the falling to 7500.00 and 7000.00 levels.
The other level for buying can be above the previous swing high. But it will be possible if the price bounces from 8500.00 level. When the market moves above 9200.00 level, we’ll get a confirmation for the upward movement. We’ll be able to join to this movement based on a breakout signal.
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The price is going to break 8000.00 support level. Watch for the price action at the uptrend line. This zone is very important for the bulls.
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The market can bounce from the support zone between 8000.00 and the uptrend line. It will give a new buy opportunity.
If the price breaks the uptrend line, we should be ready to see the falling to 7000.00 level and the 2nd uptrend line.
"Comment: The price is going to break 8000.00 support level. Watch for the price action at the uptrend line. This zone is very important for the bulls."
8,000 was broke 1 hour ago!....
....if you want to post on TV....please let us know what will happen, not what happened 50 minutes ago....
@alexstoica, I can stop posting at all. I wil lfocus on my personal trading. If you think it will help you and other traders. I guess I should do it as quickly as possible.
About your question, when I posted the update, the price was going to break the support level. The price closed below the line but breakouts useally must be confirmed by other candles. Now we have a possible breakout but if the next candleis bullish with close price above 8000.00, it will be a price reversal. So, my words are right and I wrote about the current market conditions.
alexstoica
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@DLavrov, Man, why are you doing this? Why can't you handle criticism?
@DLavrov, Ignore the haters. Especially the ones like @alexstoica who haven't even published a single trade of their own. lol.
alexstoica
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@DLavrov, Clicking on the 4 links from your signature, I have a pretty strong feeling you will keep posting on TV "just to help me and other traders" ;)
We all make mistakes from time to time. It's human nature.
jasonwhite
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@alexstoica, The problem is I don't think you understand what he is saying, thats why you're clueless. He tried to explain it to you, but I guess you're a beginner so I'll try to make it simpler.
What he said is absolutely correct, his update is absolutely correct. And YES, he did post what "will" happen, he didn't post about something in the past. I'll explain why:
His chart is using 240 minutes candlesticks, which as you may know, is 4 hours. And confirmations happen when the candlestick closes, NOT before.
When he posted " The price is going to break $8000 support " he is right, the support hasn't broken yet, because the candlestick didn't close yet. Even if the current price is below $8000, that doesn't mean it "broke support", because the 4 hours didn't finish yet.
I hope you learned your first lesson about "Confirmations" :)
8,000 was broke 1 hour ago!....
....if you want to post on TV....please let us know what will happen, not what happened 50 minutes ago....