possibele fibo and gann confluence zone identified
wheat long- large EDT found, rsi is diverging
gaps are supposed to be very powerfull. Lest See.
lagging line in ichimoku looks promising. next swing up?
stop buy at 147.3
stop loss: 143.1
take profit: 153
nice setup in cocoa. going back in the chart a similar setup was observed. an enormous rally follower in 2008.
the idea came came by reading the old W.D. Gann stuff.
graphical approach for UK100. something derived from the old gann stuff. w.d. gann defined rules for trend changes in the individual swings. but here obviously the box does also work inbetween the several swings. thats interesting.
just an idea where we are and to where to go...
Buy trigger at $111
RSI gave nice support- ready for wave 5
activated below 10159. cancel if 10469 is hit.
important requirement: 7.46 and above. cancel trade if 7.29 will be hit.
trend channel support?
down trend brocke with a new high (green bubble).
Price seems to react on newly establisched up-trend-channel.
RSI might indicate a negative reversal. But wait for a the definitve sign for entry.
RSI entering a former resistance area. price at lower trend channel
A nice risk/reward ratio?