We have a possible trading opportunity. Price moves between 2 trend lines which are the signal lines at the same time. If price breaks above the downtrend line, it will be a long opportunity. For up movement we'll need bullish signals from MACD histogram and DMI indicator which must confirm strong up movement. In other way we'll have a good chance to get a fake breakout. Only after such confirmation we can buy above the downtrend line with stop orders below 2580.00. Take-profit orders must be placed at 2900.00 level. If price breaks below the uptrend line with MACD and DMI confirmation, we'll have a sell opportunity. We'll be able to sell below the uptrend line with stop above the local swing high and profit target near 2200.00 level.
P.S. If you think this information can be useful, please, like it and share. Also I will be glad to read your comments )
@EnginSula, Personally, I'm feeling bearish too, however the past is never a prediction of the future, so we shall see what happens.
ghengiskahnspermshot
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@EnginSula, This is a whole different market from 2013, you can't use that.
EnginSula
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@ghengiskahnspermshot, market is different yeah but i agree with the chart comparison just because of human psychology and the deep of it. all bubble charts have same charesteristics. there should be a correction. we all know it.