T.A explained -
BackSide (BS)
FrontSide (FS)
Inverse BS (Inv.BS)
Inverse FS (Inv.FS)
BS & FS levels are expected support when dashed lines, tested when dotted and resistance when solid lines.
The inverse is true for the Inv. BS Inv. FS levels, they are resistance as dashed lines, tested as dotted and support as solid lines.
Monthly timeframe is color pink
weekly grey
daily is red
4hr is orange
1hr is yellow
15min is blue
5min is green if they are shown.
strength favors the higher timeframe.
2x dotted levels are origin levels where trends have or will originate. When trends break, price will target the origin of the trend. its math, when the trend breaks, the vertex breaks too so the higher timeframe level/trend that breaks, the more volatility there could be as strength in the orders flow in to fuel the move.
BackSide (BS)
FrontSide (FS)
Inverse BS (Inv.BS)
Inverse FS (Inv.FS)
BS & FS levels are expected support when dashed lines, tested when dotted and resistance when solid lines.
The inverse is true for the Inv. BS Inv. FS levels, they are resistance as dashed lines, tested as dotted and support as solid lines.
Monthly timeframe is color pink
weekly grey
daily is red
4hr is orange
1hr is yellow
15min is blue
5min is green if they are shown.
strength favors the higher timeframe.
2x dotted levels are origin levels where trends have or will originate. When trends break, price will target the origin of the trend. its math, when the trend breaks, the vertex breaks too so the higher timeframe level/trend that breaks, the more volatility there could be as strength in the orders flow in to fuel the move.
Trade active
A daily trend break would be good news to those who think shorts are fashionable. A daily trend break would need to visit a 4hr or a weekly level to see about a reversal. Look for the 4 candles that create 6 levels and find if price is going lower, where it would go lower from and where support will be.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.