Technical Analysis 15-May-2019
The price has gone up to $ 1300 after breaking the trend line. The price has already been in correction to return to the trend line that it breakout. If price grow continues, the 1310 can be target.
The price on the drawn channel (blue channel) is moving. The price has fallen from the upper line of channel and has now hit the trend line and has stopped. We expect that by breaking this line, we will have a significant drop to the lower line of channel .
Price broke out support area and was down significantly due to the fundamental news. In the current situation, the price has returned to the previous support zone. Here we have to wait and see whether this area acts as a resistance or will be broken out.
The price returned after the collision and break the trend line. Now the strength of the support zone has also been broken and has reached the bottom of its channel. If the appropriate sign appears, I will enter the long position and if this channel is broken out then the deal will be short based on the drop sign.
The price of its previous triangle has broken out, but it has shaped a new triangle. Now the price is located on the upper line of this triangle and we expect it to fall to the bottom of the triangle. In case of break out of the upper line of triangle it can also be entered into a long position.
The price is falling in the around of the upper line of channel and is at the same time completing the harmonic pattern.
The price is on the downtrend in the channel. We have a trading opportunity for short with the goal lower line of the channel. The stop loss can be considered above the upper line of channel .