Price is creating a nice channel within which the 50,100 & 200 EMA have crossed bullish on the 1hrly TF.
The marked 'buy zone' (8.4k - 8.5k) would be a nice place to look for a long entry as it contains :
- convergence of all 3 EMAs that have recently crossed buliish.
- 38.2 + 50 fib
- Resistance that should act as support
Goodluck
The marked 'buy zone' (8.4k - 8.5k) would be a nice place to look for a long entry as it contains :
- convergence of all 3 EMAs that have recently crossed buliish.
- 38.2 + 50 fib
- Resistance that should act as support
Goodluck
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totally forgot to add this in original post
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Price has overshot the lower trendline and I will be awaiting for it to show some bullish action & a close back into the channel (which would also mean rejection of lower prices + closes above all 3 EMAs)
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Close above the 100 + 200 EMAs and the trendline would be enough reason for me
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We have a decent breakout, likelihood of achieving targets is now greater
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T1 achieved.
There was good momentum behind this move so I believe likelihood to achieve T2 is also high
T1 achieved.
There was good momentum behind this move so I believe likelihood to achieve T2 is also high
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Both targets hit, now experiencing a stall at the 4hr 200 EMA as expected
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Break and close above 200 EMA is a good sign
Will be looking for next pullback to enter more longs
Will be looking for next pullback to enter more longs