Thank you! In July of this year, the price was able to break through a strong resistance line and for several months moved above it. However, at the end of September the price dropped and returned to the perdels of the line. Where it got into the channel, it moved between the support and resistance lines. As we can see on the older TF - despite the fact that both of these Price is close to break nearest resistance 1.
If this will happen, we will have good signal to open long position. Next resistance 1. Welcome Back. Please support this idea with LIKE if you find it useful. Why get subbed to me on Tradingview? As long as the price does not close above this level, my bias will remain to the downside.
However, we have seen that the price is breaking through the resistance zone at the moment. That's why I decided to change it into a long trade set-up going to the next zone of resistance. Thank you for your support! There's a tonne of myths out there to do with markets and trading, some which are totally bullshit and others which are half truths, embellished to their fullest. We're going to take a look at some of these and see what the real story is behind these tales.
On the upside, break of 1. Further rise would be seen to retest 1. However, break of 1. Intraday bias remains neutral and outlook is unchanged. Initial bias remains neutral this week first. In the long term picture, the strong break of 55 month EMA is taken as a sign of long term trend reversal. Immediate focus will be on decade long trend line resistance now at 1.
Sustained trading above there will add more credence to the case that down trend from 1. Further break of 1. Intraday bias remains neutral first. Intraday bias remains neutral for the moment. Initial bias is neutral this week first. Another fall could be seen to 1.
Overall, sideway trading will continue for the near term. Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies.
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