Hello Traders,
Holo is worth a look, my thesis has found the following,
Points to consider:
- Potential double bottom on the daily time frame
- Bouncing of longer term established trend line which is on confluence with the double bottom
- A sharp sell off into support often yields into an oversold bounce play, RSI is quite oversold compared to previous history
- Fibonacci .236 is almost perfectly aligned previous resistance area, CONFLUENCE
- More confluence is in the blue zone, with the golden 0.5 and fib extension from swing high to swing low
- A Break from the blue zone will lead to a possible lower high if support is confirmed
- Volume is starting to show up, but we need to see clear above average volume to confirm this double bottom
What are your thoughts ? please leave a like and comment
and remember,
“You create your own game in your mind based on your beliefs, intents, perception and rules.”
― Mark Douglas
Holo is worth a look, my thesis has found the following,
Points to consider:
- Potential double bottom on the daily time frame
- Bouncing of longer term established trend line which is on confluence with the double bottom
- A sharp sell off into support often yields into an oversold bounce play, RSI is quite oversold compared to previous history
- Fibonacci .236 is almost perfectly aligned previous resistance area, CONFLUENCE
- More confluence is in the blue zone, with the golden 0.5 and fib extension from swing high to swing low
- A Break from the blue zone will lead to a possible lower high if support is confirmed
- Volume is starting to show up, but we need to see clear above average volume to confirm this double bottom
What are your thoughts ? please leave a like and comment
and remember,
“You create your own game in your mind based on your beliefs, intents, perception and rules.”
― Mark Douglas