Linear Regression Stop And Reverse (LR SAR) indicator, along with confirmatory readings from RSI (14) and MACD oscillators, will assist us in analyzing the market more effectively and making the most accurate decisions for trading. The criterion for opening a trading position is having a positive decision when the signals of all three indicators align with each other. If there is a discrepancy between at least one of these indicators during these days, the deal becomes uncertain and may lead to losses. When the process of entering the market is complete and quotes approach profitable territory, we establish a point to close the transaction in terms of profit. For this purpose, we identify key points on the working chart and establish a Fibonacci grid on them. We exit the market when the price approaches correction Fibonacci levels. At the chosen time frame (H4), the linear regression channel is tilted downwards, indicating the presence of sellers in the market and showing their dominance towards the downside. Additionally, the more tilted the channel, the stronger the downside pressure at this time. Concurrently, the non-linear channel, used to estimate the near future, is in green color, indicating the possibility of further increase in quotes in the area, as it is directed northwards.
The price has touched the blue support line of the linear regression channel, 2nd LevelSupLine, but the minimum price (LOW) reached 1.23054, after which it halted its decline and started to rise steadily. Now, the instrument is priced at 1.25423. Considering all these factors, I expect that the market price quotes will rebound above the 2nd Level SupLine channel line (1.26809) with strength and then continue upward to the golden average line LR of linear channel (1.26918), which coincides with the Fibonacci level of 61.8%. Note that auxiliary indicators RSI (14) and MACD are in the oversold area, indicating the potential for further price increases in the instrument.
The price has touched the blue support line of the linear regression channel, 2nd LevelSupLine, but the minimum price (LOW) reached 1.23054, after which it halted its decline and started to rise steadily. Now, the instrument is priced at 1.25423. Considering all these factors, I expect that the market price quotes will rebound above the 2nd Level SupLine channel line (1.26809) with strength and then continue upward to the golden average line LR of linear channel (1.26918), which coincides with the Fibonacci level of 61.8%. Note that auxiliary indicators RSI (14) and MACD are in the oversold area, indicating the potential for further price increases in the instrument.
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