t/a The hourly chart is turning bullish but shows SSTO maxing out, that is my indicator to say .14 will be tested again monday. However the MACD is bullish and we might be seeing a "golden cross" on the hourly chart that would indicate we reached the bottom and we should get back to .17 soon (last "death cross") . When the ADX went over the DMI - it was also an indicator the bearish trend could change .. it will be a buy positive indicator when the DMI +/- cross over
hourly chart
The daily chart showing oversold on most indicators, however being oversold doesn't mean trend will change. It needs to be confirmed with other indicators; such as the SSTO moving above 20 and the MACD crossing IMO I think we reached a bottom at .14 based on the hourly chart and seeing the hammer candle followed by a white candle on teh daily is a good sign of reversal. Hopefully it holds because I don't see any net below .14 to catch our fall, until it bounces off the lower trend line around .10 and that to me sounds like a ridiculous scenario (look at the market capital). so I bought a few more at .14 on thursday. Nah, to me the daily chart is saying trading range will be .17 for the next target (and that matches the hourly chart indicators as well)
T/A to me pays off at least 80% of the time (not bad odds) but nothing is perfect so gamble with what you can afford to lose
remember this is just my interpretation of the technical analysis, which may or may not agree with someone else. Don't base your trades on just my opinion, educate yourself and get your own opinions. that being said T/A can only compliment your DD skills. use them both and don't be sheep. IMO there are many ways to trade or invest, you should stick to the strategy that works for you.
happy capitalism
GLTA
daily chart
