- 21EMA curling above 50 EMA
- Broke support
- Bullish structure after consolidation
- Last time price reacted like this from the support and EMA's we saw a nice move towards the resistance zone around $21.50. I see this likely to happen again.
Near broke out of the ascending triangle with large volume.
Possibility of entering this trade now, but I would wait for a retest to complete the support/resistance flip and enter there.
What are your thoughts?
- Green support zone
- 21 EMA
- Golden fibonacci zone
STOCH RSI could indicate further downward movement. If we see the fast/blue line cross the orange line, with a bullish candlestick, I'd consider that a valid entry.
- General bearish momentum
- Inside golden pocket
- Touching 21 EMA
- Slight bearish divergence on RSI
Could possible move further towards resistance zone before retracing. If we see it break there and make a higher high, we could see bullish continuation.
- Green zone = weekly support
- Touching 4H resistance
- EMA crossover imminent
We have to break the monthly open, which has confluence with our resistance zone. If we do, I'll enter a position on the retest.