Let’s start with the long term chart, simple and straight forward:
Last weekly candle closed in a Doji, reversal signal.
New all-time low for the Doji candlestick.
Above average volume.
Market sentiment changing from bearish to bullish.
When we look at it shorter term we have all the same classic signals… They are the same because these are the only signals that we need in order to find a potential bottom and come up with a low risk and potentially highly rewarding trade, this is all incredibly easy for us, it is even fun and entertaining most of the time:
Here we can see the bullish divergence again.
Volume slowly increasing.
Trading above EMA10.
The RSI hit oversold and is now poised to move up:
And that's it, that's the analysis... Make sure to hit like if you enjoyed or would like to show some support... It only takes a few seconds and we really appreciated.
Namaste.
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THE WINDS OF CHANGE ARE COMING
How has change treated you lately?
Have you been a friend of change?
Change is always present… It can be hard to change but change is good. When it comes knocking at your door, it isn’t asking for permission, it is coming in regardless… What will you do?
Will you lock the door and run away?
Will you face the change with fear and cry thinking everything is going to end?
Will you open the door and say, “Hey, I am ready for the change!”.
Yes, that’s my answer, because CHANGE IS ALREADY ON ITS WAY!
Hey Senpai. I'll let you know my perspective about this pair below.
We might get little bit of resistance at RSI's black one. Even though, bullish action seems definitly to be coming as you charted above. Weekly signs are clear, plus this trendline break on the daily chart + RSI descending trendline break on the daily chart and a bullish momentum. They are all showing that it will likely go up. My main target is Black descending trendline. Thanks for all the updates you make on the pairs.
In your words: Namaste
AlanSantana
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@chemistrytrades, Thanks a lot for your chart and analysis, it was pretty good.
We might get little bit of resistance at RSI's black one. Even though, bullish action seems definitly to be coming as you charted above. Weekly signs are clear, plus this trendline break on the daily chart + RSI descending trendline break on the daily chart and a bullish momentum. They are all showing that it will likely go up. My main target is Black descending trendline. Thanks for all the updates you make on the pairs.
In your words: Namaste