It might take a month before price hits the bottom level of this downtrend at $4,920 on the 26th of October, 2019, 29 Days into the future.
Confluences:
1. Bottom Support Line Of Parallel Channel was bottom on December 16 and will be support line for the bottom on the 26th of October.
2. Support Trend Line which supported prices on July 2 and July 17 will be the support line for the bottom on the 26th of October.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get stopped out at your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Ron (The Intrepid Trader)
Confluences:
1. Bottom Support Line Of Parallel Channel was bottom on December 16 and will be support line for the bottom on the 26th of October.
2. Support Trend Line which supported prices on July 2 and July 17 will be the support line for the bottom on the 26th of October.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get stopped out at your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Ron (The Intrepid Trader)
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The Bulls has not shown their strengths and the Bears are gradually dragging them down. This chart might happen when the Bulls don't step up before the weekend starts.
