Price broke the bullish flag/pennant and is making a nice pullback.
Many rejections from the strong level of S/R, we could have a spike but finally i expect a rally (short term or long term).
hey, i was looking at your chart. I am new to MACD but looking at ur chart looks like on day chart the MACD signal is abut to crossover to bearish and it could take days go down and recover. So I want to understand how is this a buy opportunity. Shouldnt it a buy opp. be when the bullish signal crossover.
Hello, i do not recommend to trade based on indicators, its a big mistake many traders do. Indicators are only tools for confimation. The main reason here are based on price action: support resistance, bullish flag, etc. (see above). I use the MACD only to project the final target because we had a strong continuus bullish divergence before. I could make this analysis without MACD also and project the next target to next resistances. Regards.