Update from previous idea:
Okay, I've slightly moved my yellow line, I think w have retested but the line was too thin, bigger timeframe trend lines usually have thicker lines because it is more like a small zone rather than an exact dollar amount. wither way this trend line is relevant placed in multiple points, so we will keep it here and see what happens.
its nice to see the fib playing out well, golden pocket playing out as resistance still mentioned in the last post as well. we are in a very narrow range here and I am hoping we get a bounce to the upside here after finally coming back to test support. overall this is a really basic chart pattern and it is playing out, its nice when you can zoom out and it is much more simple to analyse and is why I started doing 3 time frames because the 15 min can be crazy when in reality the 12 hour is showing a perfect bullish breakout they just take longer to play out.
best case - this was the test on the yellow support line and we continue upwards
worst case - fall back to the yellow line testing it again and breaking it down to the support levels mentioned in the chart.
Okay, I've slightly moved my yellow line, I think w have retested but the line was too thin, bigger timeframe trend lines usually have thicker lines because it is more like a small zone rather than an exact dollar amount. wither way this trend line is relevant placed in multiple points, so we will keep it here and see what happens.
its nice to see the fib playing out well, golden pocket playing out as resistance still mentioned in the last post as well. we are in a very narrow range here and I am hoping we get a bounce to the upside here after finally coming back to test support. overall this is a really basic chart pattern and it is playing out, its nice when you can zoom out and it is much more simple to analyse and is why I started doing 3 time frames because the 15 min can be crazy when in reality the 12 hour is showing a perfect bullish breakout they just take longer to play out.
best case - this was the test on the yellow support line and we continue upwards
worst case - fall back to the yellow line testing it again and breaking it down to the support levels mentioned in the chart.
