Monthly in Red, Weekly in Blue and short term in Pink
I have seen so many charts but not like this, It has broken all the lows and made a new monthly Low to 40. I really want to be helpful for people who are stuck but this is just another opinion, sometimes you have to see as it is.
Where are we on this? Previously all time low was broken a couple of month before so I had to adjust to fib extension instead of retracement. Now don't take me to 100% extension because that's taking me to negative and 78% is to 14. Very bad.
What else we have? The good part, we are currently at 45 which is higher than previous low 44.11 in 2020 but will it close this month above it or below it. Very important.
Recovery structure in short term does not look promising but possibility for a fake bounce to fail. Know your levels when to get out and get in. Stop loss can be 44 or 40 depends upon the risk you can take.
In short good sign can be: Monthly candle should not make lower low and a doji is better to form a good base
and the bad sign can be: everything you see in the chart continues same way.
I have seen so many charts but not like this, It has broken all the lows and made a new monthly Low to 40. I really want to be helpful for people who are stuck but this is just another opinion, sometimes you have to see as it is.
Where are we on this? Previously all time low was broken a couple of month before so I had to adjust to fib extension instead of retracement. Now don't take me to 100% extension because that's taking me to negative and 78% is to 14. Very bad.
What else we have? The good part, we are currently at 45 which is higher than previous low 44.11 in 2020 but will it close this month above it or below it. Very important.
Recovery structure in short term does not look promising but possibility for a fake bounce to fail. Know your levels when to get out and get in. Stop loss can be 44 or 40 depends upon the risk you can take.
In short good sign can be: Monthly candle should not make lower low and a doji is better to form a good base
and the bad sign can be: everything you see in the chart continues same way.
Comment:
There is no good sign yet as per my explanation. unfortunately bad sign continues. The only hope now is to stay above 40 for this week. If so, may be new year brings new joy. good luck
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Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight st
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight st