ETNUSD is on the move again.
The heaviest resistance ahead is Fibo-1.
If it manage to successfully breaks that resistance line then the next resistant wold be 1.6, 2.6.
JUST FOR EDUCATIONAL PURPOSES
Simple trend line showing us a bearish market in 1 day time frame. I have plotted a support and resistance line.
Get into the buy trade only after the price breaks the support line and forms minimum 2 bullish candles.
ETN has finally sprung and is in the beginning of the markup stage
expecting a return to the 2018 high of .146
and many targets beyond
not trading advice
not financial advice
actual advice: go learn things for your self
Playout 1 (Green):
For a convincing trend reversal I would expect to see the Daily Candle close above down trend or
0.005 support, then create a Higher High above Lower high from Feb 2020. Followed by a Higher Low.
Playout 2 (Red):
Daily candle doesn't close above down trend. Retraces to (possibly) create a new Higher Low at one of the support levels.