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Fibonacci Time Zone # 5
Support & Resistance indicator
New blog post: HERE.
Support & Resistance indicator.
Exhaustion + trendline + support.
Have the lines always ready on your chart.
When the correlation is high (>80, green cycle) and the pairs show a divergence the result is explosive.
But tomorrow there's the BOE, stay flat!
1.47 strong support, rising trendline.
Waiting for the breakout of sub-cycle channel.
Strong level + reversal pattern
Support + oversold.
Have a look where the volume is pointing.
Rising volume on the bullish moves.
You can find an explanation at tradingcycles.net
All this movement on a minimum means only one thing - Selling Climax.
We also have divergence + bottom of the channel.
When the price will come back in the structure the target is the red line.
2 resistance + divergence