1. Price candle break out MA 200 on 7 June '23 give strong signal the price movement may change direction to bullish soon.
2. Price candle testing MA 200 on 18 May '23 to 6 June '23 to shake out weak retailers. Price candles break out MA 200 again on 7 June '23.
3. GC (Golden Cross) MA 50 & MA 20 happen on 29 Aug '23 give another strong signal the price is build up the uptrend momentum and ready for bullish.
4. Price candle and MA 200+MA 50+MA 20 has aligned altogether give sign the price is ready for bullish.
5. Price candle testing strong resistance (1.55-1.58) and PB take place to setup a support area. Price candle BO CMT and hugging MA 20 is the 1st EP.
6. EW analysis includes in this TA together with main wave and sub wave count. Main wave 3 target (Fibo 1.618) include in this TA.
2. Price candle testing MA 200 on 18 May '23 to 6 June '23 to shake out weak retailers. Price candles break out MA 200 again on 7 June '23.
3. GC (Golden Cross) MA 50 & MA 20 happen on 29 Aug '23 give another strong signal the price is build up the uptrend momentum and ready for bullish.
4. Price candle and MA 200+MA 50+MA 20 has aligned altogether give sign the price is ready for bullish.
5. Price candle testing strong resistance (1.55-1.58) and PB take place to setup a support area. Price candle BO CMT and hugging MA 20 is the 1st EP.
6. EW analysis includes in this TA together with main wave and sub wave count. Main wave 3 target (Fibo 1.618) include in this TA.
Comment:
Red candle on 21 Sept '23 identified as Last Red Candle. Continue monitor price movement, wait for next price candle that closed above the Last Red Candle will give EP signals
Comment:
Current price candle in support area. Good time to look for good entry.