After the price came to the resistance level of 0.958 in early December, it collapsed sharply. During this collapse, the price was able to break through the resistance line, which was quite strong for this chart, and stopped only at the support line 0.946.
This line has been on the chart for a short time, only since October 2020. However, you can see that each of the price touches on this line led to the fact that the price reversed and began to rise. We observed this situation three times already, the last time - a couple of days ago.
After the price bounced off the support line, it came to the resistance line and began to fall again. Therefore, I expect further price movement in two stages:
1. First, the price will return to the support line in the area of 0.947, thereby fixing on it.
2. After that, it will rebound in the direction of the resistance level 0.958.
And this is an excellent position to open a buy trade. I will never tire of reminding you of the importance of SL. Install it below the support line around 0.943.
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩💻
This line has been on the chart for a short time, only since October 2020. However, you can see that each of the price touches on this line led to the fact that the price reversed and began to rise. We observed this situation three times already, the last time - a couple of days ago.
After the price bounced off the support line, it came to the resistance line and began to fall again. Therefore, I expect further price movement in two stages:
1. First, the price will return to the support line in the area of 0.947, thereby fixing on it.
2. After that, it will rebound in the direction of the resistance level 0.958.
And this is an excellent position to open a buy trade. I will never tire of reminding you of the importance of SL. Install it below the support line around 0.943.
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩💻
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🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.