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We need to see if we can get support at 628.19 and move up along the uptrend line (4).
It remains to be seen if volatility around December 28 could break above the uptrend line (3).
If it falls between 551.19-566.92, it is a Stop Loss to preserve profit or loss.
You can temporarily touch the uptrend line (2) and go up, so you need to trade carefully.
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** All indicators are lagging indicators.
So, it's important to know that the indicator moves accordingly with the movement of price and volume.
Just for convenience, we are talking upside down for interpretation of the indicators.
** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop-Loss point or section
S: A point or segment that can be bought for profit generation as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You should trade from a short-term investment perspective.)
Dear traders, nice to meet you.
"Like" is a huge force for me.
By "following" you can always get new information quickly.
Thank you for always supporting me.
-------------------------------------------------- -----
We need to see if we can get support at 628.19 and move up along the uptrend line (4).
It remains to be seen if volatility around December 28 could break above the uptrend line (3).
If it falls between 551.19-566.92, it is a Stop Loss to preserve profit or loss.
You can temporarily touch the uptrend line (2) and go up, so you need to trade carefully.
-------------------------------------------------- -------------------------------------------
** All indicators are lagging indicators.
So, it's important to know that the indicator moves accordingly with the movement of price and volume.
Just for convenience, we are talking upside down for interpretation of the indicators.
** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop-Loss point or section
S: A point or segment that can be bought for profit generation as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You should trade from a short-term investment perspective.)
[Example of exchange chart setup]
(Binance)
www.tradingview.com/x/S94aDxa8
(Upbit)
www.tradingview.com/x/DF6cGh3G/
(Binance)
www.tradingview.com/x/S94aDxa8
(Upbit)
www.tradingview.com/x/DF6cGh3G/
From the wRSI_SR indicator, the RS line fell below 20 and entered the oversold section.
From the CCI-RC indicator, the CCI line fell below the EMA line.
It remains to be seen if it can rise above the EMA line again.
When we look at the flow of prices in the short-term downtrend shown by the two subsidiary indicators, it seems that they are doing well in price defense.
The next volatility period, around December 28 (December 27-29), should be watched for any movement that deviates from the 566.92-689.93 segment.