Scenarios Based on Oblique Supports and Resistances

7 במאי 2019

I divided price action into two main channels one descending and one ascending then divided them into two sub channels each, respectively A, B and C,D. My approach is based on Oblique supports and resistances which I use a lot in my trading strategies. It happens that the price reacts well around medians and trend lines it could also be a coincidence. I believe the price will evolve within Channel D (below the dashed pink median line) then move above it reaching more or less $10,000 during summer time. The blue and red arrow lines are the two scenarios I see unfolding in the coming weeks.

My previous prediction of the current bullrun dated March 29th 2019