Not really here to share an idea. Tried to set up a chart with some more long term trend lines and alarms. All were much more clear than this one, but they kept disappearing after saving.
So must this be somehow useful to you too I'm glad :). But this was the only option I could still make use of the alarms, while not having to look at my computer screen all day....
Watch closely which direction the price will go.
Scenario 1: Price will break through AC line and experience further decrease finding continued resistance of BD line.
Scenario 2: Price will find continued support of AC line, break through BD and establish new growth trend.
At this moment I expect scenario 2 to happen, but always do your own research!
I foresee 2 possible scenarios.
Scenario 1: Price bounces of bottom of the trend, makes fake breakout on top of the line and goes in decline, potentially break the lower resistance or simply bounces from support line.
Scenario 2: Price breaks through and finds support where resistance is to continue further growth
Hit like if you find value in the...
As mentioned in my previous post
, a new high above the level of the left circled high needed to be established for further growth.
- Since this happened I expect a restest of resistance levels in the 0.25 area
- Uptrend has not been broken and will continue to find higher support levels
To see further growth. the new high will have to be higher than the previous one marked. The new low after will have to be higher than the previous low. Must this not happen further decrease will likely happen.
Also fake breakout happened.
In case the first two things mentioned happen, growth will continue.
The indicated line in my previous post I would have liked to seen the price bounce of has been broken through.
- Short if hour candle closes below line.
- If bounce from the lower line. Upper line will most likely be retested.
I'm keeping my current positions open until / unless I receive confirmation of the decline
If you have a different approach. Feel...
So I see that the uptrend is still not broken.
To see further growth I'd like to see it bounce of the separate line. Must that not happen, watch closely if will bounce from bottom line of the trend. If breakout I'll sell part of my holdings as I suspect further decrease. In case the price goes in any other direction. Keep on holding on.
Educational feedback is...