This signal is based on inter time-frame pattern recognition and in particular ChainLink's July/ August 2019 4H price action versus the 2018 1D candle action. Before there are any misunderstanding and willing critics of the different time frame comparison, I am stating that I am interested in pointing out the obvious similarities. Trading psychology is the same whether on short term pattern or a longer term horizon.
So to cut straight into the study at hand, we see that LINK's 1D chart on the 2018 bear cycle ended with a Double Bottom below the MA50. What followed was a strong 6 month rise to a new All Time High.
Similarly the current July/ August 2019 4H price action is on Double Bottom levels and below the MA50. If the same trading dynamics apply then soon we should see a bullish reaction first to the 2.75 Resistance and in a month's time towards 4.5000.
So to cut straight into the study at hand, we see that LINK's 1D chart on the 2018 bear cycle ended with a Double Bottom below the MA50. What followed was a strong 6 month rise to a new All Time High.
Similarly the current July/ August 2019 4H price action is on Double Bottom levels and below the MA50. If the same trading dynamics apply then soon we should see a bullish reaction first to the 2.75 Resistance and in a month's time towards 4.5000.
I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
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これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。
I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。