As we can see, the chart seems to be doing a V-Shaped recovery towards the 200EMA.
If a candle closes above the 200EMA, we can consider to go a long position with a relatively tight stop loss.
Target 1 would be the red resistance line,
Target 2 would be the trend channel's resistance line.
If we see a price rejection candle at the 200EMA, we can consider a short...
Cup and handle seen, goes to show a bullish signal. Candles are well within the trend channel as well.
Closing candle shows that the sellers were pretty strong in that one. Might see a small retracement and then back up towards the area of resistance.
Will have to look out for more confirmation signals before entering into this trade.
Do let me know in the...
An ascending triangle is forming, expecting to see a long to either the trend channel's resistance or/then the green Area of Resistance.
After that, we might consider a short position (in accordance with the major trend line on weekly time frame) down to the bottom green AREA OF SUPPORT.
Do let me know in the comments if i have made any mistakes, would...