RDD - Bottom Found?
If support found on 65 level, we can expect it to move up to retest the high on 26th of Feb.
If support found at 100 then it's off to 300 next.
On the flipside, if resistance is found at this nearby 65 level, price may head back down beneath this downtrend line in blue.
= What we want is
1. Higher Trough
2. Higher High
3. Bullish candle over the 65 level
= We don't want
1. Lower high
2. 65 level rejection
We may retest the 50 level. Price action will reveal all.
In the words if Warren Buffet
" In trading there are only two rules "
1. Don't loose money
2. Don't forget rule one
If support found at 100 then it's off to 300 next.
On the flipside, if resistance is found at this nearby 65 level, price may head back down beneath this downtrend line in blue.
= What we want is
1. Higher Trough
2. Higher High
3. Bullish candle over the 65 level
= We don't want
1. Lower high
2. 65 level rejection
We may retest the 50 level. Price action will reveal all.
In the words if Warren Buffet
" In trading there are only two rules "
1. Don't loose money
2. Don't forget rule one
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