RSI negative divergence at bottom (1.15286)
The resistance area (1.16522-1.16744) still strong
The decline (correction) to the Fibonacci Retracements (0.5) area is necessary
and does not indicate whether the pair continues to rise or fall
So, we expect more of an increase and at least return to the 1.165221.16744 zone,
but not to Buy or Sell now!
We never know when is the exact top or bottom, so the best way is to ladder.
This wedge will break sooner or later, so it makes sense to start buying on the way down.
RSI shows divergence in 4h TF.
So this would be a high probability trade to enter. I'm laddering from the $19.3 area.
Again, full technical commentary in the video above, cable has been a really good pair to follow during recent trade. Solid resistance price of 1.38, multiple confluence zone that's offered 3 shorting opportunities over the last week or so.
In line with DXY, we could see a bearish breach of 1.37 if DXY performs as expected with a target of 94.500...
Support and Resistance range currently 1780 - 1810
- Current bounce off at 1810 resistance also held strong by previous EMA5 turn resistance. (Previous posts show how we draw this)
- All our gold setup moving averages are below price movement and acting as support that is currently being challenged
- price has been bullish yet giving ample...
A nice breakout happened. Would be great to see a pullback to the green line area.
The second scenario would be a close above the red line. Let's see what will happen.
You can buy it on the Kucoin exchange.
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On the 1INCH / TETHER chart on the daily timeframe we see the formed triangle.
The main areas of support and resistance are also marked. The red line shows us the Point Of Control, this is a fair price area.
When we switch to a lower time frame, the situation is clearer, as we see in graph H1.
Now you need to find out, on lower time frames, what's going on...