TFP 0145
Market Review Series
Overall prices are in a huge range as you can see from the chart above, prices are not going anywhere since Jan 2021, which was 9 months ago! However, there are a few subtle hints that is telling us that prices are about to have a huge uptrend coming. What are they? Lucky for you, I am going to reveal to you today.
First hint is the Balancer Support (Green Line). Notice how prices had been testing the Balancer Support three times and still couldn't break below it eventhough prices are forming lower lows! This is a subtle hint for strength and the bankers are faking the lows to wash the retailers out.
The second hint is the breakout from the Fibonacci Resistance Level. That Fibonacci Resistance Level is a well respected area as it had been tested also three times in the past! Why break now? Yup, that's the 2nd confirmation.
Fast forward today we can see that prices are now testing the Twin Fibonacci Last Line of Defense. If prices manage to break up then uptrend confirm.
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In this fast-moving digital world, we get information in a few clicks.
However, we rarely get first-hand information and more often we get misleading news.
Investing in stocks today is very different from the past, but one thing hasn't changed - to study about a stock before putting money in.
A stock chart contains data that is publicly available and accurate by itself. By having certainty in data quality, we can comfortably study charts and make investment judgements.
At Chart Story, we believe stock prices move for a reason. Our objective is to share what we believe.