The 3 levels have completed and now the zone is creating a new Level 1 pattern. Suggestion: Buy. However, the price might still try to hit Red Level below the zone just for the sake of hitting some stops, be careful!
To those that don't understand the chart:
Green Boxes: These are zones.
Light Blue Lines: Are light areas of support and resistance where consolidation or small pullbacks might occur.
Red Lines: Lines where reversals or pullbacks might occur. This is also an area where the previous retractions had occurred.
Green Lines: These are Key levels; If these levels are broken, possible sign of a continuation of the current trend or a violation of the trend.
Yellow Lines: Current highest high and lowest low of the quarter.
Red Vertical Line: Represents the start of the quarter.
These set-ups, however, are not to be considered a SURE win. There are still many ways for us to see the trend; trading is a subjective factor. This is only a trading plan and must be also reviewed yourself before trading it. Every set-up I give is based from every quarter of the year. New charts are created at the end of the quarter.
To those that don't understand the chart:
Green Boxes: These are zones.
Light Blue Lines: Are light areas of support and resistance where consolidation or small pullbacks might occur.
Red Lines: Lines where reversals or pullbacks might occur. This is also an area where the previous retractions had occurred.
Green Lines: These are Key levels; If these levels are broken, possible sign of a continuation of the current trend or a violation of the trend.
Yellow Lines: Current highest high and lowest low of the quarter.
Red Vertical Line: Represents the start of the quarter.
These set-ups, however, are not to be considered a SURE win. There are still many ways for us to see the trend; trading is a subjective factor. This is only a trading plan and must be also reviewed yourself before trading it. Every set-up I give is based from every quarter of the year. New charts are created at the end of the quarter.