Weekly in an uptrend channel . It has been retracing from a long climb and now it looks like the price wants to continue its journey.
At the moment the price is at support and the weekly bullish divergence is lurking
At the moment the price is at support and the weekly bullish divergence is lurking
Comment:
Looks pretty squezed now
Related Ideas
For my sake I hope it continues down a bit more before heading back up. Good analysis, stick with your plan:)
Reply
Hi,
It seems that you are assuming the lower level of your channel?? Isn't that dangerous?
It seems that you are assuming the lower level of your channel?? Isn't that dangerous?
Reply
Lower trendline in channel is the support. Why would that be dangerous? I always use candlestick patterns for entry.
Reply
Can you see the potential high spin doji? With the massive bullish div?
Reply
ok
thank you but you don't seem to get my point
I wish you the best
thank you but you don't seem to get my point
I wish you the best
Reply
I do get your point, this channel lower line has 3 touches excluding the one now. So that makes it a valid trendline.
Reply
hmmm
Where are they? I can't see them
Maybe you are referring to the one that doesn't have a swing after it?
Where are they? I can't see them
Maybe you are referring to the one that doesn't have a swing after it?
Reply
Channels aren't that easy as ichimoku ^ ^, but you have to zoom in to 4h tf to see the touches.
Reply
so it is a channel on a smaller TF that you are showing on your weekly chart and that is supposed to show you the bigger picture
Interesting approach
Thanks
Interesting approach
Thanks
Reply
You are welcome, I also use ichimoku, but channels are my speciality to counter the trend.
Reply
Great idea
You can also use ichi to counter trend by going on a lower tf
You can also use ichi to counter trend by going on a lower tf
Reply