Based on daily chart, i found that the market already oversold and it is the best time to get ready for long position. Based on 4 hours chart, lrice should break 54.55 to confirm for reversal. have a nice trading. 4 hours chart
Introducing the evolution of smoke indicator. i called it smoke evolution. from the chart, it indicates that price will go for different level of price that indicates by indicator. blue and red band is replacing the box as entry, exit and stop. Follow next analysis...
Price was fail to break area 1 where the resistance is strong. Thus, it will go down until 3555 and try to break the support. if it rebound on support area, price is possibly break the smoke indicator.
price already broke the box. from indicator, area 1 is the hardest resistant for the price to go through. if the price is successfully break the area, posibbly it can go to area 2. the support should be at orange line. smoke shape shows it become bigger means reversal is intact. uptrend will be confirmed if the price break area1 and break the smoke. if price go...
shape of smoke indicator is narrow and indicate strong uptrend. but it possibly made retraceable at orange line. happy trading.
from the shape of smoke indicator, it become bigger that indicate the uptrend movement or reversal will happen. if the price break the box and go into smoke. it is signed of uptrend. if the price reject the smoke, downtrend will continue.
price try to break the box. the shape of smoke indicator is in horizontal shape. it indicate price will go until the level of smoke and if it break the hozirontal smoke. the upward movement will increase in momentum. but if the price reject the horizontal smoke. price will continue downtrend.
If price successfully break the box and smoke screen. it means reversal will happen. smoke screen shows that it is heading upward indicates uptrend. if price break the box but bound at smoke screen it means fake breakout and downtrend will continue.
if market break pivot weekly, it will continue until R2. if market break cloud, it will continue downtrend.
price will go up until R1. if price is fail to break R1. market will continue downtrend.
market will be in downtrend mode except if it bounce at S1.
if price break cloud, trend will move up. if price fail to break cloud and rejecting, probabily market will continue downtrend.