Trends and ranges analysis continued - now we have charts on FX, Stock $BABA, and Crypto BTC. All the notes are on the chart. So far the chart says DON T pick the bottom just yet!
Happy trading! -- DocH
Happy trading! -- DocH
Comment:
We are breaking lows, but where are we headed!. Lets look at an even higher TF chart for this. If we look at WKLY - we had a range consolidation for around 2y 2015--17. BREAKOUT moved out of the range and surprisingly (to some) stopped at this area - hmmm.. where is that -- yep, closes are right at a MM of the range. (always a good target) we try again but no go for clearing the highs. SO NOW.. we breach lows. We have to consider a MM lower of this range, see link to chart here. However there is an OLD order block zone before we get there.. so watch this initial area below first as the MM target is VERY low, I would especially pay attention if we get to mid level of this range around a ROUND number.
