In the above chart we used some of the technical factors is:
1)Swing Low and Swing High
2) and Extension
1)Swing Low and Swing High Definition :
A swing low is when the price makes a low and is immediately followed by two consecutive higher lows. Likewise, a swing high is when the price makes a high and is followed by two consecutive lower highs. The first chart below shows this definition in action on the price chart
2) and Extension
How to Identify ?
Step 1 – Identify the direction of the market: uptrend.
Step 2 – Attach the tool on the bottom and drag it to the right, all the way to the top.
Step 3 – Monitor the three potential support levels: 0.236, 0.382,0.50 and 0.618
How do you use Fibonacci extensions?
You determine the levels by using three mouse clicks. First, click on a significant Swing Low, then drag your cursor and click on the most recent Swing High. Finally, drag your cursor back down and click on any of the retracement levels
3)What is a Pullback?
A pullback is a pause or moderate drop in a stock or pricing chart from recent peaks that occur within a continuing uptrend. A pullback is very similar to retracement or consolidation, and the terms are sometimes used interchangeably. The term pullback is usually applied to relatively short pricing drops - for example, a few consecutive sessions - before the uptrend resumes.
4) Morning Star Pattern Definition
The Morning Star is a reversal pattern, being very similar to the . ... It happens that the two first candles are forming the Star pattern. As with every other pattern, the pattern should be confirmed on the next candles by breaking out of the or a trendline.
5)RSI: Observed Near 50
Traditional interpretation and usage of the are that values of 70 or above indicate that a security is becoming overbought or overvalued and may be primed for a trend reversal or corrective pullback in price. An reading of 30 or below indicates an oversold or undervalued condition
Note : Trading is all about Probability, not certainty