Take a closer look to the drawings before discarding this chart.
I've used Gann Box and Gann Fans to mark the different support and resistance lines.
The Fib Speed Resistance Arcs show me an interesting trend and pattern at the moment, that price is moving along and staying within the arc between fib level 1 and .786. I believe the price will continue doing so and move in time along this arc back towards its past ATH.
Supporting analysis are the MA's, there is a golden cross forming that will complete within the next 2 days. At that point we will see some positive price movement towards the upside.
Let me know what you think, maybe you think this is rubbish or that it doesn't make sense. Maybe I'm going about this wrong, if so please enlighten me. Any comments are welcome, good and bad!
Happy trading!
I've used Gann Box and Gann Fans to mark the different support and resistance lines.
The Fib Speed Resistance Arcs show me an interesting trend and pattern at the moment, that price is moving along and staying within the arc between fib level 1 and .786. I believe the price will continue doing so and move in time along this arc back towards its past ATH.
Supporting analysis are the MA's, there is a golden cross forming that will complete within the next 2 days. At that point we will see some positive price movement towards the upside.
Let me know what you think, maybe you think this is rubbish or that it doesn't make sense. Maybe I'm going about this wrong, if so please enlighten me. Any comments are welcome, good and bad!
Happy trading!
Comment:
EW Oscillator also showing divergence, which could indicate to a trend reversal in price to the upside.
Comment:
RISE has gone past my current expectations but as can be seen he's moved back below the .786 fib arc and moving within given range again. If it can find good support on the given lines in the chart will continue within current arc.
Comment:
RISE completely blew past the .786 fib arc level only to find resistance at the .618 fib arc level. This was a good exit point if you saw this to buy back lower at the outer level of the arc when this corrected. It found perfect support on the outer layer of the arc and also on the new white support line.
At the moment continuing its up movement within our initial arc :)
At the moment continuing its up movement within our initial arc :)