1. THE GREEN LINE:
this line is a daily line which after being broken by the chart, returned to strong support.
2. THE YELLOW LINE:
that is a long term S&R line and If we extend the line, we will see its impacts in the past too.
3. THE RED LINE: this line is the 50% of FIB retracement of the wave AB marked on the chart.
PUT THEM TOGETHER: these three lines are intersected in our elliptic zone, all acting as support.
good risk to reward ratio.
CONFIRMATION FROM H4. GETTING INTO ANY POSITION BEFORE SEEING CONFIRMATION IS NOT RECOMMENDED.
this line is a daily line which after being broken by the chart, returned to strong support.
2. THE YELLOW LINE:
that is a long term S&R line and If we extend the line, we will see its impacts in the past too.
3. THE RED LINE: this line is the 50% of FIB retracement of the wave AB marked on the chart.
PUT THEM TOGETHER: these three lines are intersected in our elliptic zone, all acting as support.
good risk to reward ratio.
CONFIRMATION FROM H4. GETTING INTO ANY POSITION BEFORE SEEING CONFIRMATION IS NOT RECOMMENDED.
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