BCH has touched the 1.272 fib extension of last upward trend, also it touched the 0.382 Fib Re of daily downward trend, it's huge challenges to breakthrough 0.382 Fib, mostly it will drop to the short target 1 or short target 2, triangular finishing region is ready for beakthrough
Entry point: 224.180
Stop point: 231
short target 1: 214.480
short target 2:...
BCH is facing daily resistance area and 0.382 Fib Re, it has touch 0.382Fib forth time, but all test failed, this time is the fifth time, there is 30min rest to finish this test, i think it will fail again
short target 1: 214.480, then test 0.382 Fib again, long target is 1.272 Fib Extension 237.915
short target 2: 210.162, then test 0.382 Fib again, long target...
It's just a very simply version.
Color even not very correct. I didn't write the price expand or other condition.
It's welcome if other guys want to write a full version.
If this kind chart is not from western.
Then I think it's qianlong platform's indicator. (QianLong means Money Dragon)
If you know the origin of tower line pelease comment to tell me. :3
Previous I'v already writed something about it.
I'v updated the detail in comment. In case you guys might not read it. I'm writing this new article
2bar's range break
U1=close>=close and close>=close ? 1 : 0
D1=close<=close and close<=close ? 1 : 0
Draw them with the color you like.
U1->D1 or d1->u1 1st break. Fill the lower gap under the break to...
It's something about two close price reverse.
It draw within bar.
Rule is within previous bar but higher than previous second bar.(In upmove)
Or within previous bar but lower than second previous bar.(In downtrend)
The within move is all flat.
All within bar's price is same when price first stop move.
Chart looks like this.
The interesting thing is that when...