- ADX<20. Would like it to be higher. - RSI<50,RSI>30 - Daily RS +ve - Daily FFI -ve - Daily MACD +ve - Weekly RS +ve - Weekly FFI -ve - Weekly MACD -ve - Broke out of downward channel on 9 Nov 2021 before on another downward channel currently. - Retracement in 2nd downward channel looks well controlled and possible BIC on 10 Feb 2022 near the 200MA. - Once clear HVN, it should move to the top of the current downward channel.
hello sorry what does the possible "BIC" mean, and also once clear "HVN" mean?
TRADER-WANNA-BE
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@mdhawkins37, BIC = buyers in control. HVN = high volume node
mdhawkins37
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@TRADER-WANNA-BE, thanks for that. does the past 2 days action invalidate the targets at all? or are we seeing some type of expanding triangle where we could see the target reached still?
TRADER-WANNA-BE
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@mdhawkins37, Yes, this trade was invalidated on 15 Feb 2022 with the high volume red candle breakdown.