Looking at a weekly high expectation hit, but also the LSR line moving out in the lead says something to me.
LSR likes to point the way, but sometimes I see this nice reversal setup when the 2 align a certain way.
Also note, I like the LSR a lot on Russell-2000 or S&P-500 futures day chart.
The gold price is trading above the support structure (strong demand zone) and the price is supported by the Dynamic trendline, (rising channel).
If the price continues to hold above the support near the POC volume zone(short term)
We might be expecting the price to move higher towards the next resistance.
Buy after break up of key level...
Firstly, I identified the general downtrend then looked for key support and resistance levels.
These levels were dynamic and consistent with the downtrend.
The entry was set at the first level of resistance with the TP being closer to the support level.
The SL was set at a key level where previous support had turned into resistance.
Simple high risk reward trade off the dynamic lows and a previously untouched area of support. This trade could well turn into a nice swing trade if we see a break out of the downward wedge but can look at that if it happens. If I get a close today on the daily below the low then will close the trade.
Looking for another buy opportunity here
Two levels to watch:
L1: 0.79270 Major static and dynamic support
L2: 0.89970 Major dynamic resistance, Fibo 0.618
The pair is still above the support and MA100 and 200.
The drawings on the chart are to replicate the expected ABCDE correction movement inside the triangle, though no confirmation yet, like...
ATOMBTC is trying to have a breakout from descending weekly resistance and daily static resistance.
IF the price will have a breakout upward, According to Plancton's strategy (check our Academy), we can set a nice order
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure ->...
SYSBTC nice 4h breakout, we are waiting for a retest and According to Plancton's strategy, we can set a nice order
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
BTC might come down to as low as the 61.8% level @ ~8.6k USD to complete the bull-flag -- continuing with the current downward parallel channel movement in the short (~2-3 weeks), before breaking up to continue with the bull market pump?
This level is a good confluence with my previous macro-view of the current BTC market cycle/phase using LIVIDITIUM dynamic...
The daily trend of the stock bounced of 200D EMA quite a lot many times to make the dynamic resistance a lot stronger and is expected to maintain above the same resistance and bounce back and go long upon hitting the resistance again. But meanwhile the trend holds a strong resistance against 50D EMA.