Hello Future Millionaires!
If the bulls can bring us back up to the key resistance zone of 18800-18900 and confirm smaller time frame candle closes above that support/resistance zone, then I'll be looking for a long to some key Fibonacci extensions!
On to new ATH before a deeper retracement? Possibly, but we still have some strong bearish divergence on the charts. If we get confirmation on some of the higher time frame divergences, which we should have closure on this week, then we should have a better idea if we are going down/sideways or on to new ATHs before a consolidation.
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Guide to My Charts
-The dark magenta horizontal lines are support/resistance 'zones'. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!
-Yellow lines are typically used to chart out pattern formations and trend lines!
-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.
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Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
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Entry: 18900.0
Entry Zone: 18480 - 19290
T1: 20400
T2: 21000
T3: 22000
T4: 23000
T5: 24000
Stop: 17596.5
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R:R: 3.91
Risk: 6.90%
Reward: 26.98%
Leverage: 5X
Leveraged Risk: 34.5%
Leveraged Reward: 134.9%
Risk Assessment: MEDIUM-HIGH
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
If the bulls can bring us back up to the key resistance zone of 18800-18900 and confirm smaller time frame candle closes above that support/resistance zone, then I'll be looking for a long to some key Fibonacci extensions!
On to new ATH before a deeper retracement? Possibly, but we still have some strong bearish divergence on the charts. If we get confirmation on some of the higher time frame divergences, which we should have closure on this week, then we should have a better idea if we are going down/sideways or on to new ATHs before a consolidation.
---
Guide to My Charts
-The dark magenta horizontal lines are support/resistance 'zones'. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!
-Yellow lines are typically used to chart out pattern formations and trend lines!
-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.
---
Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
---
Entry: 18900.0
Entry Zone: 18480 - 19290
T1: 20400
T2: 21000
T3: 22000
T4: 23000
T5: 24000
Stop: 17596.5
--
R:R: 3.91
Risk: 6.90%
Reward: 26.98%
Leverage: 5X
Leveraged Risk: 34.5%
Leveraged Reward: 134.9%
Risk Assessment: MEDIUM-HIGH
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
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