TSXV:RHT.H - Post by User
Post by
mulinekon May 28, 2018 9:58pm
319 Views
Post# 28091493
Reading Charts
Reading ChartsLet's look the price action today.
After yesderday's hammer candle we ended up the day with kind of a Doji. I think we still can move lower tomorrow and hopefully end up with convincing signal like DragoFly Doji allowing for entry point. We are oversold on Daily Time frame with CCI showing some signs of life. We shouldn't dropp bellow 68% Fibonacci - around 1.31 (I started base for Fibonacci Retracements at 0.48, where in my opinion uptrend started. This is personal and point could be 0.47 - 0.55 what would impact retracement points). Bellow 1.31 is not much support, just a thin air with low volume. Selling pressure is high especially with larger volumes. Downtrend stops when no more sellers are willing to sell. Simple
Happy trading