These are monthly diagonal levels.
A new month has started, and new diagonal levels for May have been formed.
Price has already reacted from the upper orange boundary and is currently showing signs of a potential move downward.
The downside targets are:
first — a break of the grey diagonal,
then — a move toward the green support line.
Since this is a monthly structure, the timing is uncertain. The longer price takes to reach the green level, the higher this target will shift.
In my view, there is also a possibility of filling the gap from April 8 before a move upward.
A new month has started, and new diagonal levels for May have been formed.
Price has already reacted from the upper orange boundary and is currently showing signs of a potential move downward.
The downside targets are:
first — a break of the grey diagonal,
then — a move toward the green support line.
Since this is a monthly structure, the timing is uncertain. The longer price takes to reach the green level, the higher this target will shift.
In my view, there is also a possibility of filling the gap from April 8 before a move upward.
İşlem kapandı: hedefe ulaştı
Closing update:I’m closing this idea here.
The monthly move played out quite close to the original structure map. The diagonal reaction zones worked well, and now I prefer to wait for the next monthly structure to form.
I will watch how price behaves next month and prepare a new plan from the updated levels.
Indicators, updates & setups: t.me/magicdiagonals
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Indicators, updates & setups: t.me/magicdiagonals
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.