CRT about to hit diagonal support and turn upward?
Hi. In this 1D chart you will see a potential diagonal resistance and a diagonal support that together create a channel within which the price has moved.
I've also attempted to define a resistance turned support zone that together with the support diagonal creates a clear turning point for the price to move off of and return to an upward direction.
Both the MACD and Williams in the chart indicate a current downturn in the price but still plenty of space to return to upward.
I've included two potential long trades that could be made if the price moves off of the support diagonal. A short could also be made if you anticipate that the price will break through the support diagonal and head further downward.
Thank you. Please, if you have any thoughts or comments do leave them below and I would gladly discuss or adjust my interpretations and methods with you.
This does not constitute financial advice.
Any projected prices, even if explicitly stated, are made with intent to discuss the symbol and potential interpretations.
Any trades shown or mentioned are examples and neither recommendations or mandates.
I've also attempted to define a resistance turned support zone that together with the support diagonal creates a clear turning point for the price to move off of and return to an upward direction.
Both the MACD and Williams in the chart indicate a current downturn in the price but still plenty of space to return to upward.
I've included two potential long trades that could be made if the price moves off of the support diagonal. A short could also be made if you anticipate that the price will break through the support diagonal and head further downward.
Thank you. Please, if you have any thoughts or comments do leave them below and I would gladly discuss or adjust my interpretations and methods with you.
This does not constitute financial advice.
Any projected prices, even if explicitly stated, are made with intent to discuss the symbol and potential interpretations.
Any trades shown or mentioned are examples and neither recommendations or mandates.
Penafian
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