Short term bearish, medium term bullish
Updated
[13 Nov 2020 - BEARISH]
1. On daily chart losing volume and overbought.
2. will probably come down to find support at $6.56 confirmed by following three indicators:
a 50 MA
b. Fib Level 0.236
c. high volume trade zone
3. Price consolidation zone is $6.17 to $5.67, good support level.
4. if support at $6.56 range fails then next major support is at $5.64.
5. I think my strategy would be:
a. buy moderately at $6.51 range
b. wait and see how trend settles, if it comes further down then expect support at $5.94 range and buy as much as I can
Note: Please note these are my notes for my own future reference. By no means trading advise to anyone. Please do your own research before entering into any trade.
1. On daily chart losing volume and overbought.
2. will probably come down to find support at $6.56 confirmed by following three indicators:
a 50 MA
b. Fib Level 0.236
c. high volume trade zone
3. Price consolidation zone is $6.17 to $5.67, good support level.
4. if support at $6.56 range fails then next major support is at $5.64.
5. I think my strategy would be:
a. buy moderately at $6.51 range
b. wait and see how trend settles, if it comes further down then expect support at $5.94 range and buy as much as I can
Note: Please note these are my notes for my own future reference. By no means trading advise to anyone. Please do your own research before entering into any trade.
Note
Note
Price is consolidating and MACD Histogram showing continuation of Bearish Momentum. I still expect price to come down further into the Buy Zone between $6.100 - @6.60 range, and show Bullish Price Action, where I will be a confident buyer. There is also High Volume Profile Zone at around $6.50 which is also confluence.
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