As I was expected in the previous published idea Price couldn't break the support zone. But it could break the down trend line as you can see in the chart.
A new upside movement just began. A new uptrend is formed.
You can set buy orders in the zone.
Targets are @105.70 and 107
Please don't forget to leave a comment if you find my idea helpful.
As I was expected in the previous published idea Price couldn't break the support zone.
A new valley just formed @103.60 higher than the previous valley @103.17.
A new uptrend is formed.
I buy and there is still time to enter with buy orders.
Targets are @105.45 and 106.40
The US presidential election will effect the market in a few hours. But before that happens, I'd like to see how Support and Resistance lines that i detected react to it.
So here are the support levels;
Support level @ 104.10
Support level @ 101.18
Support level @ 98.98
And Resistance levels are;
Resistance level @106.10
Resistance level @107
While the price is below the resistance 1.3665, beginning of downtrend is expected.
We make sure when the support at 1.3070 breaks.
If the resistance at 1.3665 is broken, the short-term forecast -beginning of downtrend- will be invalid.
There is possibility of temporary retracement to suggested Sell Zone (1.3505 to 1.3535).
I consider seven targets although I don't believe that the price will touch the 7th target.
I assume if the market was shocked or moved affected by the news, I will make the most profit out of it. And if not, I use the "trailing stop" or "break-even" to close them with less profit.
My SL point is clearly shown in the chart.
In the gold, there is a triangle pattern in the chart. It's expected that the price reaches Lower levels in this chart. But for the entrance, we have to wait until the triangle pattern is broken then according to the drawn chart we enter with the five positions.
Based on technical analysis, I think (Bitcoin) will ascend again. I specified 3 ranges for receiving trades profit.
The moving average 14 has crossed the moving average 55, which is a sign of ascending.
Hope to be lucrative