The market is about to end the month of August with strong gains. In my previous post I mentioned the upside target monthly R1, it's been tagged and remains a support until broken. The price is on the way to retest monthly R2. A breach of monthly R1 and return back into the previous consolidation would be a warning sign.
Consider larger timeframes like weekly and monthly to get a grip on what the market hidden forces do and try to accomplish. This is the purpose of the technical analysis - to decode what the market makers do.
In this Information Age full of ideas good and bad it's not easy to stay objective. Apply Fib levels to stay objective. Watch a reaction.
Trading is intrinsically simple, fighting the market based on subjective ideas leads to a loss of emotional and financial capital.
08/28/2021
Consider larger timeframes like weekly and monthly to get a grip on what the market hidden forces do and try to accomplish. This is the purpose of the technical analysis - to decode what the market makers do.
In this Information Age full of ideas good and bad it's not easy to stay objective. Apply Fib levels to stay objective. Watch a reaction.
Trading is intrinsically simple, fighting the market based on subjective ideas leads to a loss of emotional and financial capital.
08/28/2021
