Summary of indications:
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Hi Traders!
The idea of this setup about our analysis, that the market is very likely to move up.
Therefore, here are some indications (other exists too):
Firstly, the market reached the weekly Support Level closely. It didn't touched it yet,
but is possible to move up. Be aware, that the market also could touch the Support first, before
it goes up.
The second thing is that the market is at the daily Trendline. This daily Trendline is descending, but
supporting and it got respected in the past too.
Another clue is that the RSI-Oscillator shows a very unsold stage from which it is coming back. The lowest
value of the RSI was around 20.
Our TP would be the next Resistance, which also confluences with the 50.0% Fibonacci Retracement.
If you have another point of view, something to add or anything to ask, feel free to do so!
Thanks and successful Trading :-)!
(****Take your own risk!*****)
- Market @ weekly Support
- Market ready to bounce up from daily Trendline Support
- RSI Indicator is oversold
-------------
Hi Traders!
The idea of this setup about our analysis, that the market is very likely to move up.
Therefore, here are some indications (other exists too):
Firstly, the market reached the weekly Support Level closely. It didn't touched it yet,
but is possible to move up. Be aware, that the market also could touch the Support first, before
it goes up.
The second thing is that the market is at the daily Trendline. This daily Trendline is descending, but
supporting and it got respected in the past too.
Another clue is that the RSI-Oscillator shows a very unsold stage from which it is coming back. The lowest
value of the RSI was around 20.
Our TP would be the next Resistance, which also confluences with the 50.0% Fibonacci Retracement.
If you have another point of view, something to add or anything to ask, feel free to do so!
Thanks and successful Trading :-)!
(****Take your own risk!*****)
