Price moved out of the weekly channel earlier this week and made a good move higher. Yesterday the correction started and brought price back to test from above the upper red weekly diagonal.
This level was resistance before the breakout, and now it’s acting as support. Price could stay around this weekly diagonal for a while, or even move back inside the weekly channel.
At the same time, the daily channel gives me another setup. From here I’m watching for a move back up, first toward the blue daily diagonal and possibly toward the light-blue one.
I’m not entering just because price reached the weekly support. I want to see a buy setup first and price holding back above the purple daily diagonal.
We also have a bullish divergence from RSI Smart Divergence on 15 min chart, which gives some extra confirmation. The divergence on Wednesday worked very well, so let’s see how this one plays out.
Tools I’m using on this chart: Magic Diagonals and RSI Smart Divergence — both are available in my profile.
This level was resistance before the breakout, and now it’s acting as support. Price could stay around this weekly diagonal for a while, or even move back inside the weekly channel.
At the same time, the daily channel gives me another setup. From here I’m watching for a move back up, first toward the blue daily diagonal and possibly toward the light-blue one.
I’m not entering just because price reached the weekly support. I want to see a buy setup first and price holding back above the purple daily diagonal.
We also have a bullish divergence from RSI Smart Divergence on 15 min chart, which gives some extra confirmation. The divergence on Wednesday worked very well, so let’s see how this one plays out.
Tools I’m using on this chart: Magic Diagonals and RSI Smart Divergence — both are available in my profile.
Trading ditutup: target tercapai
First target reached — worked out perfectly, right to the level. That’s more than enough for an intraday trade, especially on a Friday. Closing here.
Indicators, updates & setups: t.me/magicdiagonals
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Indicators, updates & setups: t.me/magicdiagonals
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.