Let's think about possible entry levels using MA indicators and support levels. We can see how the market moves to the possible reversal levels. DMI indicator shows trend market conditions but ADX line falls and it tells us that we should not expect strong up movement within several days. MACD also confirms down movement. RSI falls to the oversold zone and we will be able to get a strong reversal signal. So, we have a good correction movement and out target should be to wait for price reversal in the direction of the main up trend. Buying zones can be near 260.00 level, MA50 line, 200.00 level and MA100 as a support line too. The main thing is - price must bounce from one of these levels and MACD histogram and RSI will have to confirm price reversal. Only after that we'll have to buy based on trading signals from the daily and hourly charts.
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So, now we observed two strong rebounds from the support level at 200, and we can also see that the price was relatively stable at this price at the end of may. Also because we are now strongly in the oversold line, this suggests the reversal right?
Thanks for your professional comments and ideas!
CashflowAllan
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Thank you very much for your time and effort... this is very enlightening and educational process...
DLavrov
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@CashflowAllan, I will do the best for providing more interesting stuff
juret
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Great post with great patient explinations, with good intention and it is free I have been watching you for a while some people can enjoy through helping others, that is gift i am amazed Thank you, appreciated!