Purple Line indicates previous major Resistance. Prices have broken this level, good indication to me that price wants to keep going up.
Red line indicates Daily Support and Resistance level. Since price has broken the level, it is a good indication that this will now become Support.
I will most likely go long if the prices retrace back down to where the two S/R levels are located. There is also a Fibonacci confluence as well.
Red line indicates Daily Support and Resistance level. Since price has broken the level, it is a good indication that this will now become Support.
I will most likely go long if the prices retrace back down to where the two S/R levels are located. There is also a Fibonacci confluence as well.