Seems to be finding a floor even if it still has some possible price drop.
Could be a nice to follow and risk diminishing situation with a lot of potential.
LONG in one or two weeks. I will UPDATE then. It might pump sooner
MAGENTA CHANNEL This is a curved projection channel created upon a bounding box. The chart is presented over a LOG price scale. For its creation we use 3 "curved line boundaries" that cover the center, upper and lower limits for potential movement. Even if this not an attempt to forecast a trend or future scenario, it allows to have an easy to read view of probable limits and oscillation parameters.
Just sharing my personal charts for learning purposes only. This is not an investment recommendation.
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There is a mistake in the chart with the +100% It should be more depending on the buy zone price. As much as +200%
Thanks. As u have worked with this andicator, do u know how accurate is this? Roughly. I mean like 50%, 70%, etc. just roughly.
heroselohim
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@Ehsan_1982, This is not an indicator, it is manual charting. So, I'm not very sure how accurate I'm on it, it depends on asset volume (very important metric).
The magenta channels have medium to high accuracy.
What happens inside the channels might not be that accurate. May be... medium ?
But the channel limits are pretty well respected (usually) and might be enough to now how much you can profit from bottom to top.