1. Clear all drawings and indicators.
2. A horizontal support line consists of 18Aug23 low and previous breakout level, observe if price reversed at here (React Don't Predict).
3. Add BandofMidas from indicators. Use Midas factor of 9.( suitable for this chart)
4. Price fall into Midas zone and reversed. Midas line still in pink. Double confirmed.
5. CONSIDER to go long, nothing 100%
6. Plan your trade, risk reward ratio. GO Long.
In my opinion, this is a news driven panic sell.
im LONG with $1 cut loss risk.
2. A horizontal support line consists of 18Aug23 low and previous breakout level, observe if price reversed at here (React Don't Predict).
3. Add BandofMidas from indicators. Use Midas factor of 9.( suitable for this chart)
4. Price fall into Midas zone and reversed. Midas line still in pink. Double confirmed.
5. CONSIDER to go long, nothing 100%
6. Plan your trade, risk reward ratio. GO Long.
In my opinion, this is a news driven panic sell.
im LONG with $1 cut loss risk.