We are seeing a pullback after the butterfly pattern. This retracement could bounce upwards in response from 0.618. Or it can be as long as 1.27 supply zones. Therefore, I think that the region above the region I indicated with 0.618 may be suitable for buying, and the region below it may be suitable as the stop loss region. When we look at the indicator data, it signals that the price will return from here. Although Rsi is 34, if this descent extends to 0.618, the rsi value will have fallen below 20. A value of less than 35 seems reasonable for a buying opportunity. In other words, starting to collect from here seems like a suitable option to avoid being left out, even if there is a return.
I have an equation that I developed called W*2. I will not go into details, but according to this calculation made with both pattern and indicator data, one more shape should emerge. The simulation image of this formula is as follows. If the section that says score on the indicator script I wrote was above +0, it would be necessary to handle this image differently. Of course, this is a newly developed equation. Your own strategy is always more valuable than the ideas of others. I am already doing this analysis to support you in making the right investment decision by comparing my opinion with your own strategies. So you shouldn't consider this an investment advice.
Looking at the Aroon indicator, we might think that we might see sellers weakening and buyers getting ready to start a trend. According to my W*2 equation that I just mentioned, if we also calculate the shortness of the climb, I think the aroon up and aroon down will meet in the middle and the sellers will continue to go up again. The estimated image that I expect to form on the indicators is as follows;
When we look at the trend indicators, we detect a positive dissonance in momentum. In other words, we can think of it as a signal that prices can return from here. The fact that the ADx is above 30 also indicates that the downward trend has weakened. When we look at the money indicators, we can think that the money inflow has started in the cmf and that this is a pullback according to the cmf data.
We can also see the falling wedge of the already emerging downtrend. So this decline may actually be a pullback.
I tried to show the angle of price averages with green bars in Atr. This may make us think that there is actually no real pullback in prices. When the upturn begins and prices start to rise, a bearish line will begin to form at atr. In summary; I'm waiting for the prices to return from here. I believe that the real breakdown will start then, by testing the 158s of the price.
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