The price bounced from 270.00 support level and moved upward. RSI confirmed price reversal. MACD supports upward movement. DMI allows opening long trades. If the price breaks the donwtrend line and SMA100, we'll get an additional confirmation of further upward movement. It will be a new buy opportunity. We can wait for the breakout and buy from the market. But also we can use pending orders for entry placed at 292.00 level. Stop orders must be placed below the local swing low at 266.00 level. Profit targets are 320.00 and 360.00 resistance levels.
Thank you for your charts. I am learning a lot from them. I like how you place your supports and resistance. Whenever I draw them, I end up with too many lines. How do you figure out which are the more important levels? Which time frame do you use to draw your s/r levels? Do you use the wicks or candle close? Thank you.
rrvsb
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Thanks for your guidance sir DLavrov, we all appreciate it..
qutsqia
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your analyzis is v.good... where did you learn it from may I ask DLavrov?
Hulksmash101
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Hi new to this site can you please clarify "Stop orders must be placed below the local 0.21"? TIA