Novatek.
WEEKLY
Uptrend, however slight changes in volumes.
RSI in overbought zone, but still no lower than 50, which is OK if its uptrend.
For me it was a test of psychological barrier of 1200.
Daily
RSI lower than 50
Convergnce with chart
No proper volumes to confirm trend continuation
I exprect falling to Gann Level and Fibo 0.618 (Red Point)
4H
Here i analyze by Stochastic due to weakened trend.
Again I see divergence on stochastic, which makes lower high.
Now the price works in Elliot Correction waves after fast moving up.
Due to breakage of Gann 1/1 i assume price movement from B to C -1050.
On C the gann level will be tested and rebounded back to 1/1.
The rebound of 1/1 is inescapable because of strong uptrend that we have on W and D.
the price will be reinforced by main trend and goes higher.
Maybe price will break Fibo 0.618 and drop on Fibo 0.5, nothing critical , then the uptrend will start from 985
I will open long from C ( 1030) with SL 960 and TP 1190
WEEKLY
Uptrend, however slight changes in volumes.
RSI in overbought zone, but still no lower than 50, which is OK if its uptrend.
For me it was a test of psychological barrier of 1200.
Daily
RSI lower than 50
Convergnce with chart
No proper volumes to confirm trend continuation
I exprect falling to Gann Level and Fibo 0.618 (Red Point)
4H
Here i analyze by Stochastic due to weakened trend.
Again I see divergence on stochastic, which makes lower high.
Now the price works in Elliot Correction waves after fast moving up.
Due to breakage of Gann 1/1 i assume price movement from B to C -1050.
On C the gann level will be tested and rebounded back to 1/1.
The rebound of 1/1 is inescapable because of strong uptrend that we have on W and D.
the price will be reinforced by main trend and goes higher.
Maybe price will break Fibo 0.618 and drop on Fibo 0.5, nothing critical , then the uptrend will start from 985
I will open long from C ( 1030) with SL 960 and TP 1190
Trade attivo:
As I expected, price has touched 1030.
Long is open.
The test of idea started.
Long is open.
The test of idea started.