Hiaptek 5072
Normal TA VS Fibonacci TA
Normal TA
Let's do something different today as everyday you see post all about Fibonacci. Today I am going to do a comparison between Fibonnaci TA and Normal TA. To access the remaining post you can follow my Telegram Channel, it is all inside my Channel. Link is at the Bottom.
Overall prices are in a ranging uptrend after the massive spike on last year December. However, inside the ranging uptrend, we can learn a few things from it.
First, notice that before prices head up higher in April, there is a Cup & Handle Chart Pattern? The breakout happens with a combination of the MACD Golden Cross. This indicates that the breakout consists massive strength and indeed sending prices all the way up.
As for now, we can see that there's a Parallel support, supporting the prices to stay above it. We can use that Level as our Last Line of Defense and if prices breaks below it, a downtrend may come.
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