Today’s Technical Analysis – GTII – trading in a valid rising wedge where a break back to structural support is likely.
Points to consider,
- Range median (Local resistance)
- Structural support retest (S/R Flip confirmation)
- RSI divergence
- Stochastics in upper regions
- Noticeable bull volume
GTII’s range median is an important level marking the apex of the rising wedge. A break down to structural support is probable; it needs to hold to confirm an S/R Flip.
The RSI is showing divergence, price is making consecutive higher highs whilst the RSI establishes lower lows, a valid bearish divergence.
GTII has noticeable increase in bull volume nodes, it needs volume follow through once structural support is tested.
Overall, in my opinion, GTII is likely to break bearish from this rising wedge; structural support retest is probable, level bulls must defend.
What are your thoughts?
Please leave a like and comment,
And remember,
“You create your own game in your mind based on your beliefs, intents, perception and rules.” ― Mark Douglas
Points to consider,
- Range median (Local resistance)
- Structural support retest (S/R Flip confirmation)
- RSI divergence
- Stochastics in upper regions
- Noticeable bull volume
GTII’s range median is an important level marking the apex of the rising wedge. A break down to structural support is probable; it needs to hold to confirm an S/R Flip.
The RSI is showing divergence, price is making consecutive higher highs whilst the RSI establishes lower lows, a valid bearish divergence.
GTII has noticeable increase in bull volume nodes, it needs volume follow through once structural support is tested.
Overall, in my opinion, GTII is likely to break bearish from this rising wedge; structural support retest is probable, level bulls must defend.
What are your thoughts?
Please leave a like and comment,
And remember,
“You create your own game in your mind based on your beliefs, intents, perception and rules.” ― Mark Douglas
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Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。