Be careful and think twice

6 בינו׳ 2020

Hello Wonderful people!
The holidays are past us and a possibly troubling time is waiting in the horizon.
Troubling time I meant the international uncertainty that happened with USA and their decision in middle east, and this like many other things affect the stock market and in turn crypto market.
When these things happen, big events that impact markets across, it is very dangerous to do trades based on technical analysis alone. and that is the main message I would like to share with you all.

Changes
I made several changes from my previous post.
- The gold triangle is the short term trend triangle
- The black triangle is the long term trend triangle
- the blue chart you can see is the GOLD index.


Conclusion
The RSI on 4 hour chart is showing a small divergence for RSI and price candles, but as i stated earlier, it is too dangerous to trade on technical analysis with these early events of news; so I will hold my trades.
Just to help me visualize, I have added the gold triangle to see the short term movement and trend, up against the long term which is the black triangle.

The price is moving inside both of the triangles, but it looks to wanting to break the gold triangle and I think we will see that happen soon (but keep in mind anything can happen in these early global events).
Although, the price will stay within the black triangle and new support will be 6840 EURO.

Wish you all a safe trading and always protect your losses