Finding the decision zone. Follow or fail.
Updated
Cant make it more simpler than this :)
I am using a 4 h chart but any time frame will do.
This is really simple way to see where the possible decision zone or price is.
If one (or 2) moves above/below the R or S line but the rest refuses to follow, there is strong probability for the change in direction.
In this particular case, if ETH and or LTC wont make it above the same line as BTC, BTC will fail too and search for next support starts.
I am using a 4 h chart but any time frame will do.
This is really simple way to see where the possible decision zone or price is.
If one (or 2) moves above/below the R or S line but the rest refuses to follow, there is strong probability for the change in direction.
In this particular case, if ETH and or LTC wont make it above the same line as BTC, BTC will fail too and search for next support starts.
Trade closed: target reached
now you find a next level (S or R) that matches and go from there.Comment
Finding the decision zone. Follow or fail.Comment
BTC is still stuck right under that R LTC is no better.Comment
to make it more obvious, I used 1 H Comment
Here is the latest update. Levels have slightly changed, new R addedComment
Comment
As you can see, BTC failed to make it above R and dragged everything else down with it. Disclaimer
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