Simply pointing out goals we need to accomplish in order to stand a chance of confirming a reversal to SUSTAINED upward pressure in January, 2020. I'm including the 3-Day chart again below to make it easier to read because TradingView's platform likely scrunched up the cover chart.
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If we do breakout above the Yellow 20-MA in the 3-Day TF, do not be surprised if we have a pause and/or brief pull-back at my 0.786 FIB at $7,820 before continuing up to TRY to achieve the next goal at the Green 50-MA. The final goal is the 1.0 FIB at $9,948.98. If we can reach $9,948.98, we stand a decent chance of that being high enough to allow room for a brief consolidation event downward before continuing upward once again.
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Looks like the Green 50-MA and/or Blue 100-MA in the 3-Day TF's are our next stop more than likely. THEN we should see a brief pull-back. I will keep a close look on the indicators as we approach the 50-MA and 100-MA in the 3-Day to see if we have a chance of running up to the Magenta 1.00 PRIMARY FIB at $9,948.98.
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Made a miner correction to the Blue Text Bubble in this 3-Day TF:
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Added White Circles back in history on the Stochastic RSI in this 3-Day TF to show we may have a dip the NEXT 3-Day candle. It's possible to see a dip in the Stochastic RSI on the current 3-Day Candle I suppose, but I'm actually expecting a dip during the NEXT 3-Day Candle I'm anticipating a bounce back up of course.
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If the price action would run up to the Magenta PRIMARY FIB at $9,948.98, this would give us room to fall back down to the Yellow Weekly 20-MA to begin acting as support in a similar way the Yellow Weekly 20-MA acted as support in 2016 and 2017.
Thank you for taking the time to give us a very detailed view on the current situation. Price went above the 3D 20MA today and have mostly defended it, and most hourly timeframes appear bouncy and eager to go up, though white energy in 12H continued to move down, about to pass below 50 level. I suspect we could have a dip back down to 7300 before generally moving up as indicated in 2, 4, 7D timeframes.
Looks like the Green 50-MA and/or Blue 100-MA in the 3-Day TF's are our next stop more than likely. THEN we should see a brief pull-back. I will keep a close look on the indicators as we approach the 50-MA and 100-MA in the 3-Day to see if we have a chance of running up to the Magenta 1.00 PRIMARY FIB at $9,948.98.
happyhusband
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Very nice and detail TA, what are those Godmod and Phoenix indicators ?
I just gave you an invite to three scripts (indicators). You may need to refresh your browser to see them in your "Invite-Only Scripts). Be sure to watch the following video before doing anything with the indicators I just gave you an invite to. Then watch it a second time and pause the video as needed to setup your indicators as shown in the video. Just be sure to watch it one time ALL THE WAY THROUGH "FIRST."