Lowest Low = 2017 Last High = 2018 Higher Low = 2020 Higher High = ?
When we make an higher high above current STRONG RESISTANCE you could say that we are in an confirmed uptrend.
STRONG RESISTANCE: 122.5 - 124.5
This zone accounted 3 times as support, one breakdown in 2015 and then acted 2 times as resistance. You do not want to forget this important S and R Zone when price breaks out of this zone, look for entry on breakout or the retest
CURRENT SUPPORT: 114 - 116
S&R-Flip that happend in November Lines up the with 0.5 Retracement (Dow theory) Last summer we have broken a 12 year downtrend wich could be accounted for new support This is the aggressive buying zone, for the ones who likes some more risk
TARGET REVERSAL PATTERNS: 138 - 140
Target based on measurement off Inverse Head&Shoudlers and Double Bottom Also had 3 Knock outs (Hammer) out of this zone in the past
@BitonGroup, Your idea has confluence with mine, The bearish divergence did play out and price made an lower high under the trendline
Now prices are moving already beneath the 200D MA, let's see wat price does with the incoming death cross, further downside or a golden pocket bounce of the fibonacci zone?
It will surely have a better value to look at than now, DXY had a nice run last month if it continues, we will have our value to look at.
BitonGroup
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@Delzeyne, yess exactly, i am total agreeing with you. we shall wait more a bit i believe, thanks for sharing your opinions, it was very compressive
what do you think about it?