Ace failed to maintain the new high after touching .25, Followed by a breakdown to retest previous levels.
After the breakdown from the previous high Ace held the .23 level followed by a retest of the .25 level, not enough buyers to maintain the zone... Followed by another breakdown to collect more buyers to take to the upside.
As the market broke down further the .23 held followed by a strong sell wall at the .24 which led to further break down of the price. Strong wicks to the .22 level followed by move ups to the .24 to try and reclaim that level met by sellers Ace soon dropped lower in price failing to maintain the .23 we soon saw price break down to the .22 level followed by more sellers which lead the price drop and strong wick to the .21 level.
Since these prior breakdowns in the market Ace has not been able to maintain the .23 level, as we can see multiple reattempts at holding the zone but followed by sheer sellers at the zone. price consolidating from .21 to .23 while trying to break the .24 level which led to a rejection and a further break down to the .20 zone.
.20 showed a lot of interested buyers in the market so the level was held and sustained further breakdown.
earlier this morning we saw another retest of the .20, which was yet again held strong by buyers signifying that buyers are interested in maintaining the price point.
Ace is currently in a consolidation phase, for prior plays in the future I would wait for springs and shakeouts before another move to the upside.
Prior idea's and feedback if possible.
After the breakdown from the previous high Ace held the .23 level followed by a retest of the .25 level, not enough buyers to maintain the zone... Followed by another breakdown to collect more buyers to take to the upside.
As the market broke down further the .23 held followed by a strong sell wall at the .24 which led to further break down of the price. Strong wicks to the .22 level followed by move ups to the .24 to try and reclaim that level met by sellers Ace soon dropped lower in price failing to maintain the .23 we soon saw price break down to the .22 level followed by more sellers which lead the price drop and strong wick to the .21 level.
Since these prior breakdowns in the market Ace has not been able to maintain the .23 level, as we can see multiple reattempts at holding the zone but followed by sheer sellers at the zone. price consolidating from .21 to .23 while trying to break the .24 level which led to a rejection and a further break down to the .20 zone.
.20 showed a lot of interested buyers in the market so the level was held and sustained further breakdown.
earlier this morning we saw another retest of the .20, which was yet again held strong by buyers signifying that buyers are interested in maintaining the price point.
Ace is currently in a consolidation phase, for prior plays in the future I would wait for springs and shakeouts before another move to the upside.
Prior idea's and feedback if possible.