For Tihama the good thing to do is to follow the Fibonacci extension to well measure the extension of the current bullish move, so normally we should close at the level 63,09 or 64,64 and you can see that it match up perfectly with the resistances, but what is more logical in my opinion is to close at 63,09? SO STAY IN YOUR POSITION
We are near a strong resistance level at the price 17, be aware of it because this level is much respected from the last year, but if we saw again a gap in the price with a break of the price 17, then the market will repeat the previous bullish channel ,with a high probability
I think that we are in a good place to buy but all we need is that the price must be up to 13,31 and then we can enter and put at least the level 14,07 as a target and it may vary regarding the behavior of the market in the next week
I think that we should prepare to buy at the price 7,80 and put the price of 8,38 as a target and that may vary regarding the behavior of the market in the next week for the SL we can put 7,24,
PS: after the butterfly we saw that the market give us a strong bearish wave and then again the market did a remarkable correction with the breakout within the level 50% of...
After analyzing this bullish move we can state that the market really want to continue the uptrend and we are will supported also with the volume
I think that we can enter in the market, we can expect that the market will go up until the test of the red resistance trend line
We are in a good buy opportunity here because we have a lot of indications that supports us like the volume and also the tag team of the level 61 of fibonacci and the major support level in green
This support now is acting as a lif e saver for the buyers and we saw from this last rejection that the buyers can take control again, STAY IN YOUR POSITION AND SELL AFTER REACHING THE TARGET LEVEL
The market is purely controlled by the buyers so we are in a good position to buy, also the market respect the support line and give us a strong pullback with a high volume, so we can take that investment with confidence,
THE BUYERS ARE IN CONTROL
You should be aware of this green trend line, the market may go down until the the test of the green trend line, but we are well supported with the 200Ma, so we are not against the market but for now the market might take a corrective wave :)
The market will take the decision in the near future because we are within the 200MA and it can act again as a strong support, the market might go up after the testing of this range, if that the case then we can expect to get out of the market until the target level
We need to see a test within the green line or if you prefer the safety then you can enter after the testing of the 200MA because we are clearly in a bullish trend
We have a strong indications that the market will go down :
1.The 3 recent candles are all in gravestone profile, the market can't break the VWAP indicator, the VWAP act as a strong resistance,
2.The Fibonacci give us the level of 75% as a strong resistance too,
3.The respect of the red trend line and the market need to go back to the channel,
Summary:
The...
