I thought 12H 233EMA was going to be tested, but there's a good chance this channel is breaking downwards till 7K area.
After the last up, middle part of channel was a great resistance, and bull volume never appeared. After 4 touches, channels can break easily and next support area is around 7K.
- MACD is about to cross bearish in bearish side.
Long bullish set up with a great volumed white candlestick:
- MACD crossing bullish.
- RSI over resistance 46 area and supported on it.
- Stoch: Bullish divergence on oversold and getting out.
- ADX just diminished to sideways but growing again the distance between DI+ and DI-
- Breaking 55EMA (since long time ago) after a higher low happened.
LONG IT IS.
Moving inside paralel channel, I am going to scalp the upper part of it. I will stay if resistance breaks again. Note that 4H-1H are bullish.
- MACD signal crossing ZERO LINE
- ADX sideways DI+ dominating
- RSI over 50
- Stoch dangerous on overbought.
Daily chart. Every indicator is showing bullish while PA is breaking EMAs and the bullish crossover is near. Volume defines S/R areas on red line, more or less where i will take profits.
- MACD signal crossing ZERO line
- RSI breaking 50 and supporting
- ADX on sideways but DI+ dominating.
- STOCH is crossing bullish outside the overbought
Breakout descendant channel with PA over EMAs. Indicators bullish:
1. MACD signal crossing ZERO
2. RSI breaking resistance trendline and over 50
3. Stoch crossed bullish
4. ADX sideways with DI+ dominating
Just my journey, not advice!
Great shorting trade opportunity after channel broken. No volume on the channel, I assume it was a continuation pattern. Also indicators:
1.- MACD crossing bearish again under ZERO.
2.- RSI under 50 and going downwards.
3.- STOCH far away from oversold
4.- ADX on sideways but DI- dominating and growing.
5.- PA under EMAs as a resistance.
ENTERING SHORT - JUST MY...
We know 4H is bearish, we can do a quick short because of indicators and PA:
1.- Candlesticks closing below EMAs
2.- VOlume and RSI divergences on double top
3.- MACD signal crossing ZERO LINE
4.- ADX DI- dominating
5.- Stoch crossing bearish and far away from oversold.