channel forming. currently at top. reacted at trend line last night and is forming a double top right now. macd is about to cross over and rsi in a channel on daily time frame also todays daily candle is a doji. targeting bottom of channel. medium term trade.
we have structure to left we have trend line meeting with structure we also have a .382 retracment of main move up we also have a 1.618 of previous leg terminating at that point we also have an abcd pattern terminating there. lots of confluence.
trend line rejection plus weekly 50 day moving average rejection plus daily doji candles. wedge pattern recently broke out retesting it now. targeting .382 retracmet level of recent move down also there is structure there. I have been long since the trend line touch. we also have a double bottom on the 4 hour.
we have a support line that held all the way from last year in september broken in january of this year and is now retesting it. we also have a .382 retracment of the initial down trend move that started in december. also macd and rbi are turning bearish.
ascending channel tested support twice in last couple of hours. got in right at support which minimizes my risk by a lot. also have the 50 day moving average acting as support on the 4hr chart. also have some horizontal support.
There is an ascending trend line touch and also a descending trend line touch. macd and rsi are oversold. Macd is also close to crossing on 4hr chart. Also its .50 retracment of the rebound of the major crash.