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We need to get support at the uptrend line (2) and see if it can rise above the uptrend line (4).
Also, if you get support in the 551.19-566.92 range, I think there is a high possibility of further gains.
It remains to be seen if the volatility around December 17th will cause any movement outside the 551.19-628.19 range.
If it falls at 551.19, it is a short-term Stop Loss.
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** All indicators are lagging indicators.
So, it's important to be aware that the indicator moves accordingly with the movement of price and volume.
Just for convenience, we are talking upside down for interpretation of the indicators.
** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop-Loss point or section
S: A point or segment that can be bought for profit generation as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You should trade from a short-term investment perspective.)
Dear traders, nice to meet you.
"Like" is a huge force for me.
By "following" you can always get new information quickly.
Thank you for always supporting me.
-------------------------------------------------- -----
We need to get support at the uptrend line (2) and see if it can rise above the uptrend line (4).
Also, if you get support in the 551.19-566.92 range, I think there is a high possibility of further gains.
It remains to be seen if the volatility around December 17th will cause any movement outside the 551.19-628.19 range.
If it falls at 551.19, it is a short-term Stop Loss.
-------------------------------------------------- -------------------------------------------
** All indicators are lagging indicators.
So, it's important to be aware that the indicator moves accordingly with the movement of price and volume.
Just for convenience, we are talking upside down for interpretation of the indicators.
** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop-Loss point or section
S: A point or segment that can be bought for profit generation as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You should trade from a short-term investment perspective.)
[Example of exchange chart setup]
(Binance)
www.tradingview.com/x/S94aDxa8
(Upbit)
www.tradingview.com/x/DF6cGh3G/
(Binance)
www.tradingview.com/x/S94aDxa8
(Upbit)
www.tradingview.com/x/DF6cGh3G/
If it falls, you need to make sure you get support at the uptrend line (4) and at 628.19.
If it falls at 628.19, it is a short-term stop loss.
If it falls from the 566.92 point, a Stop Loss is required to preserve profit and loss.
Since the interval between 566.92-628.19 is large, it is good to organize your thoughts on how to proceed with Stop Loss.
If it rises above the 689.93 point, an attempt is expected to break above the uptrend line (3).