Hello friends
Last week with the US news, we saw a strong upward movement
By checking the chart in:
Monthly time frame:
- The price moved up from the dynamic support level with the formation of a doji candle, with a relatively strong candle
And now it is at a resistance level
And it seems that the price is in the range area
- Stoch RSI; Above 80 (although in Metatrader, it is below 50 and tends to rise}
- RSI; In the range of 50
- MACD; Close to zero is the range
- MA; It is on the 20 range, and has hit 50
Weekly time frame:
- Relatively strong bullish candle, with a long shadow above
- Stoch RSI; Above 80 and tending to decline
- RSI; Nearly 50
- MACD; Range
- MA; on the 20, 50 and 100 ranges, and has hit but not broken the 200
Daily time frame:
- Relatively strong bearish candle
- Stoch RSI; with divergence and downward tendency
- RSI; Divergence and tendency to decline
- MACD; Divergence
- MA; Price above 200
4H time frame:
- Stoch RSI; Nearly 20
- RSI; Above 50
- MACD; Tendency to descend
And smaller time frames tend to converge and go up
Next week, I think
1- The price will have a downward trend with a short-term increase at the beginning of the week
2- With less probability, the price may continue its upward trend
* Anyway, I am waiting for the start of trading and getting confirmation to open the position
** Don't forget stop loss (without money, we have no power to trade)
Be profitable
Thank you for expressing your opinion with likes and comments
Last week with the US news, we saw a strong upward movement
By checking the chart in:
Monthly time frame:
- The price moved up from the dynamic support level with the formation of a doji candle, with a relatively strong candle
And now it is at a resistance level
And it seems that the price is in the range area
- Stoch RSI; Above 80 (although in Metatrader, it is below 50 and tends to rise}
- RSI; In the range of 50
- MACD; Close to zero is the range
- MA; It is on the 20 range, and has hit 50
Weekly time frame:
- Relatively strong bullish candle, with a long shadow above
- Stoch RSI; Above 80 and tending to decline
- RSI; Nearly 50
- MACD; Range
- MA; on the 20, 50 and 100 ranges, and has hit but not broken the 200
Daily time frame:
- Relatively strong bearish candle
- Stoch RSI; with divergence and downward tendency
- RSI; Divergence and tendency to decline
- MACD; Divergence
- MA; Price above 200
4H time frame:
- Stoch RSI; Nearly 20
- RSI; Above 50
- MACD; Tendency to descend
And smaller time frames tend to converge and go up
Next week, I think
1- The price will have a downward trend with a short-term increase at the beginning of the week
2- With less probability, the price may continue its upward trend
* Anyway, I am waiting for the start of trading and getting confirmation to open the position
** Don't forget stop loss (without money, we have no power to trade)
Be profitable
Thank you for expressing your opinion with likes and comments