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Wednesday, July 21, 2021

Support zone instead of simple support (Bitcoin fake breakouts)

Support zone instead of simple support (Bitcoin fake breakouts)

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

Sometimes just a simple line is not working and here is the place that zone got the meaning.

so instead of using so many lines, we can use <<Rectangle feature of trading view>> and create some support and resistance zones.

here take look at the Bitcoin example in previous weeks:

snapshot
But let's take look at the 30K support zone instead of the 30K support:
snapshot

and let's take look at Forex and the same scenario:
here take look at the USDCAD example in the previous month:
snapshot
But let's take look at the 1.2060 support zone instead of the 1.2060 support:
snapshot

<<๐Ÿ‘hope you enjoy๐Ÿ‘ >>

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