Publishing helps me focus on my own analysis and notes, and provides my own layer of critical thinking and second review.
Line Color Legend:
Aqua Blue is a support line that has been very respected recently. There are actually two aqua lines that converge, each line based on macro trends. Bear push downs, which have been fast and also quite expected and controlled, have rested on that converged line (which I never expect to be perfect, due to small differences of Exchange metrics).
Red is a downward cycle, notice no recent touches on the support (lower) part of the red line.
Analysis:
We are at a really big convergence zone between the two.
I'm looking for buying opportunities in the green highlighted zone (a rectangle) and any sign of direction (and very much assuming muy obscurification of whale moves). The small background space between the red and green zones, which would break the "Higher Low" short term trend, is a critical area to watch.
Note:
Thanksgiving FOMO buying - if it happens, like last year - is complementary to this current setup.
Line Color Legend:
Aqua Blue is a support line that has been very respected recently. There are actually two aqua lines that converge, each line based on macro trends. Bear push downs, which have been fast and also quite expected and controlled, have rested on that converged line (which I never expect to be perfect, due to small differences of Exchange metrics).
Red is a downward cycle, notice no recent touches on the support (lower) part of the red line.
Analysis:
We are at a really big convergence zone between the two.
I'm looking for buying opportunities in the green highlighted zone (a rectangle) and any sign of direction (and very much assuming muy obscurification of whale moves). The small background space between the red and green zones, which would break the "Higher Low" short term trend, is a critical area to watch.
Note:
Thanksgiving FOMO buying - if it happens, like last year - is complementary to this current setup.