Note:
You will need to refer to my video (below link) if you want to understand how I came to this structure.
I have 2 bullish scenarios, which I will share. With each scenario, I will be monitoring it using the RSI and Stochastic indicators on the daily and weekly.
As you can see, I have marked the potential bottom which will help find the price at the time to go long (hopefully) including the use of the candle detector script and known support and resistance lines.
As you can see with the main chart, I have Fib. Fan 3/1 as potentially the support line\bounce, which has confluence with the channel established from 2018 bottom (3.1K)
I also have used the weekly 50 and 100 MA as a guide as well. The video helps explain my method.
The pattern moving forward will be some bottom type, accumulation type structure and hence I used this 2018 bottom fractural structure
Scenario 2 below is an alternative bullish view using traditional pattern formation and MA along with known support and resistance lines.
These also have confluence with the main scenario chart.
I don't want to keep talking as I'm planning to do a video to this effect, tomorrow or the weekend.
Scenario 1: Using fib.levels and fib.fan\fib.circle\fib channel method
============================
Scenario 2 : Using 50/100 MA method
==========================
Last video post
My July post that has confluence for this
You will need to refer to my video (below link) if you want to understand how I came to this structure.
I have 2 bullish scenarios, which I will share. With each scenario, I will be monitoring it using the RSI and Stochastic indicators on the daily and weekly.
As you can see, I have marked the potential bottom which will help find the price at the time to go long (hopefully) including the use of the candle detector script and known support and resistance lines.
As you can see with the main chart, I have Fib. Fan 3/1 as potentially the support line\bounce, which has confluence with the channel established from 2018 bottom (3.1K)
I also have used the weekly 50 and 100 MA as a guide as well. The video helps explain my method.
The pattern moving forward will be some bottom type, accumulation type structure and hence I used this 2018 bottom fractural structure
Scenario 2 below is an alternative bullish view using traditional pattern formation and MA along with known support and resistance lines.
These also have confluence with the main scenario chart.
I don't want to keep talking as I'm planning to do a video to this effect, tomorrow or the weekend.
Scenario 1: Using fib.levels and fib.fan\fib.circle\fib channel method
============================
Scenario 2 : Using 50/100 MA method
==========================
Last video post
My July post that has confluence for this
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
