Diagonal white lines are trend lines drawn with market geometry (different from geometry in school).
Horizontal white line is a support line also market geometry.
The vertical rainbow colors with numbers alongside it are called Fibonacci ratios (a numerical ratio pattern credited to an Italian mathematician born in 1170 whose name was actually Leonardo Bigollo. Fi 2.15% in Latin is loosely translated as reliable, Bonacci were his parents' name)
Yellow dashed line is monthly support and resistance .
Red, solid, thin line is stop loss.
The gray out of place rectangle is a monthly price reversal zone (high volatility area)
Purple harmonic pattern referred to as a bat pattern . This pattern's ratios are exact to definition but it lies in the middle of the PRZ. Yuck.
Top white trend line extends into the bat. Yay!
In any event, the channel price moved in has been broken and a downward movement would be predictable.
Horizontal white line is a support line also market geometry.
The vertical rainbow colors with numbers alongside it are called Fibonacci ratios (a numerical ratio pattern credited to an Italian mathematician born in 1170 whose name was actually Leonardo Bigollo. Fi 2.15% in Latin is loosely translated as reliable, Bonacci were his parents' name)
Yellow dashed line is monthly support and resistance .
Red, solid, thin line is stop loss.
The gray out of place rectangle is a monthly price reversal zone (high volatility area)
Purple harmonic pattern referred to as a bat pattern . This pattern's ratios are exact to definition but it lies in the middle of the PRZ. Yuck.
Top white trend line extends into the bat. Yay!
In any event, the channel price moved in has been broken and a downward movement would be predictable.