2.10 - 2.11 is key area of support.
Already been retested.
Confirmed at the .382 Fibbonaci retracement level
Over the hourly and 4 hourly time frames the 20, 50, 100, 200 ma level acting as a support.
On the daily looks as tho the 20 MA might retest the 200 level.
These are very strong indicators of a strong upward trend occuring.
I believe the price will test...
Again not the greatest drawing but I'm going to try spice thing's up a bit using the XABCD tool.
Possibility of an upward trend if the breakout is confirmed passed the area of interest.
My thought's is that it may retrace off the .618 Fibonacci level as shown in the graph.
I'm kinda new to using this indicator so any opinions and tips would be great.
Feel free...
It ain't the best diagram but it's a general idea of both scenarios of long and short.
LONG DESCRIPTION -
As you can tell the market is retesting the resistance continuing a build up of something big happening.
While following the A B C D pattern it looks as though it could break out of the descending triangle and retest the next resistance as shown in the...
With the overall bullrun over the past couple months or so the market had to fall at some point to correct itself.
I believe if it rebounds back up to it's support and continues it's steady rise again we might be back on track and set for a good recovery.
You can see clearly that the VOO has been staying directly in this upward channel.
Would love to hear your thoughts.
