I do not have the right connections and/or insight (by that I mean insider info) to correctly asses any kind of asset from the fundamental type of analysis; by this I mean forex, commodities, stocks, etc. I look at a graph and try to figure out where are support levels, resistance levels and BIG changes in volume (number of transactions per unit of time) that support either the increase in value or drop of it which is pure, simple, TECHNICAL ANALYSIS.
1 - nice bounce
2 - buy if it breaks; short if it bounces
3 - target HIGHLY PROBABLE
4 - hopefully we don't come back here ... still in the package of probabilities
Nothing fancy; no need for anything else. No MACD, no Stoch., no ASX, no MA, no MAexp, etc. etc. Not more, not less.
I say:
S = support
R = resistance
V = volume
Based on these ideas refer to the pic and if you can, comment.
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