Reversal upwards? Wait for it to rupture this resistance first and the there should be a retraction back to the EMA 21.
After that, we should look for further corroboration, evaluating MACD + RSI (Divergencies) and, least but not last, the OBV+Volume.
This might be a momentum of change here, even though the resistance rupture has not been completed.
Things to carefully analyze:
1- If the rupture of this small resistance is completed;
2- if it retracts back, as shown on the chart;
3- if the indicators are, still, pointing upwards (RSI, MACD and OBV) and, finaly;
4- the most important: if a strong bullish candle...
It might be a turning point; however, it has already ruptured another important point. It need to "kick" this region at least twice, producing a "two touches" pattern.
After that, we should further our discussion on the topic, knowing that we can't make any decisions without looking for further corroboration.
This is an example of a scenario where a range-trader might see some points of interest, some of them are listed below:
1- This drawn resistance around 112.000 is an important one, which has not been trespassed for the past 14 months (+-);
2- As we can observe, also, with the support of the indicators (Stoch + CCI), this might be an overbought zone;
3- If we zoom...
I don't usually trade 15MS charts, but this one might be interesting. As we can see, there was this rupture of an important resistance level, which lasted for about 6 days in a row, at around 1.69063. Should we go long? I think there are some important items to ponder about before making this decision:
1- check the RSI as well as the MACD, as you can see on the...
