the hangover hit quite long isn't it?
Güncellendi
HKG33 Hello everyone! The index seems got some booster?
D chart shown that the
MACD Signal lines are both are closing the gap and touching the zero line.
Price : 19700 - 19730 is the support level
We do not know if this is gonna be bullish or bearish. How to cross-check and confirmed?
Let's deep dive into smaller tf:-
4h chart
On 9Dec2024 we can see the Golden Cross from MACD indicator. Infact the index did surged for that day but it did not last long. As you can see the Dead cross on 11Dec2024 as marked in chart for easy reference.
1h chart
as marked 12Dec2024; the MACD signal formed a Dead cross crossing down the zero line which confirmed it was in a bearish zone. This bearish mode has continue till date.
However, you can see the indicator starting contributing green histrogram and the MACD line is curving up and touching zero line, as mentioned we are hoping that there is attraction for volume to realize the reversal.
So we have to monitor closely and see if we can ride on the reversal.
Support level at ¬19700.
The Index will continue to test this support level.
BB : we can see the movement is slowly curving up, and hopefully this continue together checking and confirming with the MACD curving up trend.
Also to look at the KDJ, although is in bullish green zone but the indicator seems curving down.
Swing trade plan buy into support sell at resistance and set your SL/TP. Trade according to your tf ; set your entry/exit plan accordingly.
Support Level ; 19700, 19520, 19315(another key support level)
Resistance Level : 19900,20050-20250
Happy Trading Everyone!
Let's execute our zen strategy and zen with 📙 and 🍵.
İşlem kapandı: hedefe ulaştı
1h chart
as we have observed and forecast the Index ranging the upper BB area i.e 19750-19900; from what we noticed that MACD curving up the index up with around 100pips with very weak momentum (KDJ bearish zone).
Continue to monitor and trade within the range and wait for more positive authority policies and form a robust reversal.
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