“As for now, the price is on a very important mid-term support. Bounce from the yellow area will give us a buy signal and a breakout will do the opposite- trigger a signal to go short. „
Back in that day, the price bounced from that support. We went from the 0.85 USD to 1.16 USD few days later. Nice! That was it though. In the next few days, the price went lower and broke the support mentioned before. First, we got a profitable buy signal and then a profitable sell one. Why? Because after the breakout of the 0.85 USD, the price went significant lower – to the 0.5 USD in the middle of August.