I personally think that we are currently the Wyckoff accumulation zone, and have reached the stage C
The reasons for long as follows:
1. Since 2008-03-17 oversold rsi signal, volume and price divergence.
2, August 2011, panic selling, the rate reached 0.7, but the supply has been exhausted, quickly rebounded to the rate 0.99, naturally fell back to the rate of 0.87, demand increased (the supply is almost exhausted!)
3. The rate is between 0.92-1, during the period, demand is more than supply, March 12, in the global liquidity crisis situation, the rate dump hard, followed by a rapid rebound, currently rate fell to around 0.93 again, personal think that is the second confirmation of last support
Long-term strategy
1.put long-term orders near the range bottom
2. range traders, daily traders, can also buy low sell high in 0.92-1
3, Once SOS appears with a large volume, and breakthrough of the upper edge of the range, follow the trend, open long
Let's take a look at 4 hours chart, where to buy (for daily trader)
The reasons for long as follows:
1. Since 2008-03-17 oversold rsi signal, volume and price divergence.
2, August 2011, panic selling, the rate reached 0.7, but the supply has been exhausted, quickly rebounded to the rate 0.99, naturally fell back to the rate of 0.87, demand increased (the supply is almost exhausted!)
3. The rate is between 0.92-1, during the period, demand is more than supply, March 12, in the global liquidity crisis situation, the rate dump hard, followed by a rapid rebound, currently rate fell to around 0.93 again, personal think that is the second confirmation of last support
Long-term strategy
1.put long-term orders near the range bottom
2. range traders, daily traders, can also buy low sell high in 0.92-1
3, Once SOS appears with a large volume, and breakthrough of the upper edge of the range, follow the trend, open long
Let's take a look at 4 hours chart, where to buy (for daily trader)