Manieri: Combined technical score shows potential reversal zone

20 Şub 2016

Using the four hour chart as a higher time frame and a one hour as a trading time frame, a CTS score starts to build in the zone highlighted in yellow. If RSI goes oversold in this same zone, I think it could constitute a strong buying signal. We see confluence of both a larger retracement and extensions/inversions in the zone, as well as an ABCD pattern. As it stands, the score stands at a six.