There are about 3 parallel channels we can find on this chart from log, to auto and even a much larger channel from decades past that all line up to today.
I am using this channel as my first line of Resistance.
Invalidation here is very easy.. You break above this channel and confirm.. You have .4 to .5 % if you are to reach that trend line from here. However, you have quite a few reasons that we could stop and top out here and reject ......
I will post another channel I have later.
I am using this channel as my first line of Resistance.
- Rejecting this channel on the multi year time frame.
- Bearish divergence on the weekly / monthly TF.
- RSI & MACD have rejected the MA after a retest on the Weekly TF.
Invalidation here is very easy.. You break above this channel and confirm.. You have .4 to .5 % if you are to reach that trend line from here. However, you have quite a few reasons that we could stop and top out here and reject ......
I will post another channel I have later.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.