Check if it can rise to around 0.5452
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(AUSDT 1D chart)
It hasn't been long since EOS changed to A.
Nevertheless, the formation of the HA-Low and HA-High indicators suggests that a wave has begun to form.
However, since the DOM (-60) indicator hasn't yet formed, if it fails to find support from the HA-Low indicator, further declines could occur, so we need to consider countermeasures.
With the HA-Low and HA-High indicators in place, we can now trade in line with our basic trading strategy.
In other words, this refers to a trade where you buy in the DOM(-60) ~ HA-Low range and sell in the HA-High ~ DOM(60) range.
This ultimately refers to a trading strategy within a box range.
Trend trading strategies proceed by either rising in the HA-High ~ DOM(60) range or falling in the DOM(-60) ~ HA-Low range.
In other words, a rise in the HA-High ~ DOM(60) range is likely to lead to a stepwise uptrend, while a decline in the DOM(-60) ~ HA-Low range is likely to lead to a stepwise downtrend.
In this sense, key support and resistance levels are the 0.5013 point and the 0.5847-0.6238 range.
Currently, the price is rising above 0.5013, so if support is found around 0.5013, it would be a good time to buy.
The first sell zone is around 0.5452, where a volume profile zone has formed.
If the price rises above this level and maintains, it is expected to continue upward, likely reaching the 0.5847-0.6238 range.
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The low trendline has not yet been formed.
The low of the candlestick indicated by the finger is the first selection point for drawing the low trendline.
Since a high trendline has been formed, we should also examine whether the price can rise along the high trendline.
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Thank you for reading to the end.
I wish you successful trading.
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- This is an explanation of the big picture.
(3-year bull market, 1-year bear market pattern)
I will explain in more detail when the bear market begins.
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