Update: new layout - long term time frame
This is a new chart here and I don't have much experience with the long term time frames but it will develop as time goes. I have worked out several trend lines and 2 key lines to look out for in the future.
start with the good news, this big RED line, taken from the very first high of 2018till now and we have never broken this line to the upside successfully, this past few weeks included getting rejected at the red line at the beginning of November was a big tell that we were going to see a test of support, not to mention a couple days ago we didn't even make it to the red line actually showing weakness that looks obvious now and is a big reason why multiple time frames must be analysed.
2 support levels that have played excellent levels are the thin blue line and thick white line which have now overlapped each other but having these drawn up would've called the bottom to the dollar, not going to lie that trend line might be bit far fetched, as it has been invalidated previously, however it was resistance turned support and it is sometimes good to extend these lines as they can still be relevant and in this dump it was, so we will leave it open for the long term and add to this chart as we go.
the thin blue line has acted as support for a long time, this dump it looked like it could be the first line of resistance but we have successfully broken through which will act as support hopefully in the upcoming days/ weeks. we have seen a bullish breakthrough and retest of this line which gives me hope for more upside.
so summary of long term targets;
- thick white line big big support
- blue line flipped back to support, need to hold it
- big big big bullish sign is a break and retest of the RED line signalling massive bullish momentum
This is a new chart here and I don't have much experience with the long term time frames but it will develop as time goes. I have worked out several trend lines and 2 key lines to look out for in the future.
start with the good news, this big RED line, taken from the very first high of 2018till now and we have never broken this line to the upside successfully, this past few weeks included getting rejected at the red line at the beginning of November was a big tell that we were going to see a test of support, not to mention a couple days ago we didn't even make it to the red line actually showing weakness that looks obvious now and is a big reason why multiple time frames must be analysed.
2 support levels that have played excellent levels are the thin blue line and thick white line which have now overlapped each other but having these drawn up would've called the bottom to the dollar, not going to lie that trend line might be bit far fetched, as it has been invalidated previously, however it was resistance turned support and it is sometimes good to extend these lines as they can still be relevant and in this dump it was, so we will leave it open for the long term and add to this chart as we go.
the thin blue line has acted as support for a long time, this dump it looked like it could be the first line of resistance but we have successfully broken through which will act as support hopefully in the upcoming days/ weeks. we have seen a bullish breakthrough and retest of this line which gives me hope for more upside.
so summary of long term targets;
- thick white line big big support
- blue line flipped back to support, need to hold it
- big big big bullish sign is a break and retest of the RED line signalling massive bullish momentum
