We are currently in between two of my historical bright blue support lines, just under the .382 retrace from recent swing high, coming to a ceiling which I expect to open up.
Swing fib retracement diagonal trend line has been acting as support since the swing low that kicked off this recent trend, and I expect it to continue as support. If we fall below, watch other historical bright blue lines and fibs for support.
I projected two probable movements; there are always other levels that may act as resistance and support along the way, and those levels may be lower than those drawn here.
Measure twice, cut once.
May all life's fortunes be yours.
Swing fib retracement diagonal trend line has been acting as support since the swing low that kicked off this recent trend, and I expect it to continue as support. If we fall below, watch other historical bright blue lines and fibs for support.
I projected two probable movements; there are always other levels that may act as resistance and support along the way, and those levels may be lower than those drawn here.
Measure twice, cut once.
May all life's fortunes be yours.
Comment:
All feedback and questions are welcome and appreciated.
Comment:
On the 4HR, LTC now testing convergence of mid-term ascending support line (lavender), long term horizontal support/resistance line (bright green) and 100EMA (yellow).
Comment:
(I'm looking at multiple EMAs. The one on the published chart is the 50, for clarification.)
Comment:
We have a breakout. Looking for the 4HR candle to close above the lavender downtrend line.