Weekly Novatek.
Uptrend, however slight changes in volumes.
RSI in overbought zone, but still no lower than 50, which is OK if its uptrend.
For me it was a test of psychological barrier of 1200.
On Daily
RSI lower than 50
Convergnce with chart
No proper volumes
I exprect falling to Gann Level and Fibo 0.618 (Red Point)
4H
Here i analyze by Stochastic due to weakened trend.
Again I see divergence on stochastic, which makes lower low.
To recap with the usage of Gann waves 1/1 1/2 2/1 and Fibo I found crossovers.
Now the price works in Elliot Correction waves after fast moving up.
Due to breakage of Gann 1/1 i assume price movement from B to C -1050.
On C the gann level will be tested and rebounded back to 1/1.
The rebound to 1/1 is inescapable because of strong uptrend on W and D.
Maybe price will break Fibo 0.618 and drop on Fibo 0.5, then the uptrend will start from 985
I will open long from C ( 1030) with SL 960 and TP 1190
Uptrend, however slight changes in volumes.
RSI in overbought zone, but still no lower than 50, which is OK if its uptrend.
For me it was a test of psychological barrier of 1200.
On Daily
RSI lower than 50
Convergnce with chart
No proper volumes
I exprect falling to Gann Level and Fibo 0.618 (Red Point)
4H
Here i analyze by Stochastic due to weakened trend.
Again I see divergence on stochastic, which makes lower low.
To recap with the usage of Gann waves 1/1 1/2 2/1 and Fibo I found crossovers.
Now the price works in Elliot Correction waves after fast moving up.
Due to breakage of Gann 1/1 i assume price movement from B to C -1050.
On C the gann level will be tested and rebounded back to 1/1.
The rebound to 1/1 is inescapable because of strong uptrend on W and D.
Maybe price will break Fibo 0.618 and drop on Fibo 0.5, then the uptrend will start from 985
I will open long from C ( 1030) with SL 960 and TP 1190
Trade active
I have opened long at 1030 from 26 of OCtoberTrade closed: target reached
GREAT TRADE
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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.
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.