Velesto 5243
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 huge ranging uptrend inside the huge range. However, inside the ranging uptrend, we can learn a few things from it.
One of the benefits for trading a ranging chart is that the RSI will be very useful as every Overbought/Sold made by the RSI are accurate predictions of a reversal of trend. By combining with the support zone drawn in the chart, we can easily predict the rebounding area and possibly place a buy position. Same theory can be applied to place the sell position too.
Previously, prices had executed a breakout from the small downtrend. A successful backtest on the downward trendline indicates that bankers decide to stop the downward momentum. Therefore, there is a high chance for the prices to trend higher in the near terms.
Student Analysis
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