Today we will analyze the current chart of Visa. Let's start:
a) The main two structures we can see on the chart are: The ascending channel and the dynamic support resistance level (yellow lines)
b) Currently, the price is above the dynamic support resistance level and is supported on the ascending channel
c) At the moment, we have a corrective pattern (green structure), and we say "at the moment" because the pray may keep falling and invalidates the whole idea. Yes, that's trading (what a lonely world)
d) Ok, let's keep going. What we can see here is that if the price breaks above the green horizontal line, we will take that as a confirmation of the bullish view towards the two fibo extensions levels.
e) Invalidation level is always below the structure (assuming that the price reaches the entry-level and then start falling)
f) If everything goes as expected, we can wait for a 90 - 120 days movement towards the target
Thanks for reading! And remember: Protect your Capital!
a) The main two structures we can see on the chart are: The ascending channel and the dynamic support resistance level (yellow lines)
b) Currently, the price is above the dynamic support resistance level and is supported on the ascending channel
c) At the moment, we have a corrective pattern (green structure), and we say "at the moment" because the pray may keep falling and invalidates the whole idea. Yes, that's trading (what a lonely world)
d) Ok, let's keep going. What we can see here is that if the price breaks above the green horizontal line, we will take that as a confirmation of the bullish view towards the two fibo extensions levels.
e) Invalidation level is always below the structure (assuming that the price reaches the entry-level and then start falling)
f) If everything goes as expected, we can wait for a 90 - 120 days movement towards the target
Thanks for reading! And remember: Protect your Capital!