Troys Comp - Weekly TF Entry
Same as last time, only weekly TF...
We are currently sitting right near (just below) the 0.618 Fib from the last run up from 3121 to 13998. I do expect that it will break down temporarily fairly soon before moving back upwards, however i do not believe that we will make a lower low (<6400). Instead I believe we will move more sideways until approx last week of Feb when 20ma & 100ma Weekly cross, which will provide support for a move up.
After this time i expect that the market price will bounce off Monthly & Weekly Orderblocks, Moving Averages, and Ichimoku Clouds and come to a resting point on/around the 0.382 Fib on 16/05/2020.
Moving Averages:
Weekly - Above 200MA, riding 100MA currently, below 50MA (just had a golden cross at start of Dec 2019) and below 20MA. There may be some localised high's, but it should not break through top of order block at 7715.
Daily - Below 200, 100 & 50MA's, riding on top of the 20MA currently but has been squeezed between the 20 & 50MA. 20MA has slowed the move down, but wont hold it for long before the 50 overpowers it downwards towards the bottom of the current Monthly OB at 6400.
Ichimoku Cloud:
Weekly - we are well under the cloud, however that has only recently spiked and we went through a narrow wall. I believe that it will touch potentially twice before breaking into the cloud and through.
3-Day - i believe we will get one touch rejection before it breaks into the cloud and up throuth the top.
1-Day - we have just had one touch and rejected, the next will pass through edge to edge before hitting the monthky OB/Weekly Ichi cloud bottom.
RSI:
On the weekly it is clear to see that RSI is in a downtrend, and will be at the 30 value on/around the same time as the cross of 20 & 100 Moving Average cross on weekly.
Stoch RSI:
Daily: Does not look to oppose anything in the above projection. Next days will be downwards momentum, followed by a slow rise until the start of Feb, before coming back down again to bounce on the MA cross on/around 17th Feb where it will move up again.
Price at 16/05/2020 will be $9888.88
We are currently sitting right near (just below) the 0.618 Fib from the last run up from 3121 to 13998. I do expect that it will break down temporarily fairly soon before moving back upwards, however i do not believe that we will make a lower low (<6400). Instead I believe we will move more sideways until approx last week of Feb when 20ma & 100ma Weekly cross, which will provide support for a move up.
After this time i expect that the market price will bounce off Monthly & Weekly Orderblocks, Moving Averages, and Ichimoku Clouds and come to a resting point on/around the 0.382 Fib on 16/05/2020.
Moving Averages:
Weekly - Above 200MA, riding 100MA currently, below 50MA (just had a golden cross at start of Dec 2019) and below 20MA. There may be some localised high's, but it should not break through top of order block at 7715.
Daily - Below 200, 100 & 50MA's, riding on top of the 20MA currently but has been squeezed between the 20 & 50MA. 20MA has slowed the move down, but wont hold it for long before the 50 overpowers it downwards towards the bottom of the current Monthly OB at 6400.
Ichimoku Cloud:
Weekly - we are well under the cloud, however that has only recently spiked and we went through a narrow wall. I believe that it will touch potentially twice before breaking into the cloud and through.
3-Day - i believe we will get one touch rejection before it breaks into the cloud and up throuth the top.
1-Day - we have just had one touch and rejected, the next will pass through edge to edge before hitting the monthky OB/Weekly Ichi cloud bottom.
RSI:
On the weekly it is clear to see that RSI is in a downtrend, and will be at the 30 value on/around the same time as the cross of 20 & 100 Moving Average cross on weekly.
Stoch RSI:
Daily: Does not look to oppose anything in the above projection. Next days will be downwards momentum, followed by a slow rise until the start of Feb, before coming back down again to bounce on the MA cross on/around 17th Feb where it will move up again.
Price at 16/05/2020 will be $9888.88
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.