Learning a new tool here, Please point out any defects- It would be much appreciated!!!
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So the Idea here was to find out why I found such strong resistance on my previous charts, around the 9.4k range. the current ascending channel we are in comprises of another smaller channel, that we fell out of, and are struggling to re-enter, whilst hitting the 9.4k resistance horizontal. -with this said, all candles and moving averages were showing strong bullish signs. After using Gann with a Fib overlay, the answer is a little more clearer for me. We are currently testing the 4/1 which is a strong resistance, and also coming up against the .618 fib.
I feel like this is going to take some serious capital to punch through quickly, or we'll need some more sideways time till we pinch between the ascending 3/1 and decending 4/1. I am still very bullish, however this is where I will be awaiting conformation.
I feel like this is going to take some serious capital to punch through quickly, or we'll need some more sideways time till we pinch between the ascending 3/1 and decending 4/1. I am still very bullish, however this is where I will be awaiting conformation.