Well... it did close below 220USD. The thin red line is probably 25USD/day. Would that be sort of the expected rate (approx, average)? Or is it used only to estimate the crossing of the WMA and that 220 limit? Just trying to learn.
Well... it did close below 220USD. The thin red line is probably 25USD/day. Would that be sort of the expected rate (approx, average)? Or is it used only to estimate the crossing of the WMA and that 220 limit? Just trying to learn.
Wrong assumptions lead to wrong conclusions. What is the basis for your "thin red line"?
Of course they do! And... none: in the graphic there is a red line, going downwards with time, that is thinner than the horizontal red line. It seems to be extrapolated (to call somehow) from the blue WMA.
The red line that you are talking about is trend resistance line. When the price closes above it together with closing above the red thin horizontal trigger line - that's the "buy" signal.
@srezz: you're talking about closing price but at which moment?
I post 4 hours and daily charts. So, 4H and daily closes based on GMT.