Monthly: on this timeframe price has been ranging between 0.77500 and 0.72500. Price is making higher lows but not higher highs, the 0.76500-0.77500 zone is rejecting price strongly. January candle was a big bullis engulfing one,
february's candle looks like some sort of hammer but it's price being rejected from the zone. March's candle looks like a spinning top candle and this month's candle looks like a hanging man atm. What we can see in this timeframe is that
price has been in a pretty intense downtrend fora long time and now has exausted, and it might be reversing to the upside. Once price breaks the 0.765-0.775 zone and closes above it we can see price rallying in a violent way. for the moment
we should wait for price to give us a clear signal of bullish continuation, in the meantime dont trade agains the trend, only look for buy opportunities
Weekly: price has been indecisive in this timeframe, big bullish and bearish candles, kinda in no mans land. in the higher picture im expectin price to reach higher highs. price has been rejected from the 0.74900 level and might continue the move
upwards. What we well definitively see is price testing the 0.76500 again and maybe breaking through it. you'll just have to wait for the next weeks to play out. Im taking a long trade here, my entry would be at the monthly support level
0.75250
daily: on this timeframe price has been moving downwards, but now it's retracing up. A hammer and a spinning bottom formed on the daily, then another hammer and a very bullis candle. Price seems to be rejected from the 0.75900 level,
and now we should see a break of that level and a retest of the previous zone before price reaches the 0.75500 again. IF price doesnt break out or fakeout that 0.75900 it will indeed come down to the monthly support 0.75250-0.74900 zone
and then rally up the upper resistance zone. So IF price is rejected from the 0.759 figure we should see it coming back down to the monthly support, and IF price reaches that level and we see some candlestick formation THEN we should buy
targets would be at 0.76600 level. If price fails to come up, then we should see a retest of the longer timeframe trendline. it doesnt matter that much what level does price reach, it will reach the 0.76500 figure so only look for buy opportunities
unless lower trendline gets broken and you confirm the dowtrend. remember that in the "longer picture" price has made a higher low BUT in the daily it has made a lower low so you could expect further downside before it breaks the resistance zone
february's candle looks like some sort of hammer but it's price being rejected from the zone. March's candle looks like a spinning top candle and this month's candle looks like a hanging man atm. What we can see in this timeframe is that
price has been in a pretty intense downtrend fora long time and now has exausted, and it might be reversing to the upside. Once price breaks the 0.765-0.775 zone and closes above it we can see price rallying in a violent way. for the moment
we should wait for price to give us a clear signal of bullish continuation, in the meantime dont trade agains the trend, only look for buy opportunities
Weekly: price has been indecisive in this timeframe, big bullish and bearish candles, kinda in no mans land. in the higher picture im expectin price to reach higher highs. price has been rejected from the 0.74900 level and might continue the move
upwards. What we well definitively see is price testing the 0.76500 again and maybe breaking through it. you'll just have to wait for the next weeks to play out. Im taking a long trade here, my entry would be at the monthly support level
0.75250
daily: on this timeframe price has been moving downwards, but now it's retracing up. A hammer and a spinning bottom formed on the daily, then another hammer and a very bullis candle. Price seems to be rejected from the 0.75900 level,
and now we should see a break of that level and a retest of the previous zone before price reaches the 0.75500 again. IF price doesnt break out or fakeout that 0.75900 it will indeed come down to the monthly support 0.75250-0.74900 zone
and then rally up the upper resistance zone. So IF price is rejected from the 0.759 figure we should see it coming back down to the monthly support, and IF price reaches that level and we see some candlestick formation THEN we should buy
targets would be at 0.76600 level. If price fails to come up, then we should see a retest of the longer timeframe trendline. it doesnt matter that much what level does price reach, it will reach the 0.76500 figure so only look for buy opportunities
unless lower trendline gets broken and you confirm the dowtrend. remember that in the "longer picture" price has made a higher low BUT in the daily it has made a lower low so you could expect further downside before it breaks the resistance zone
