Monthly:
-support made in W SUP 0.6240 zone (LL) recent candle closing as bull inverted hammer like w/ wick to prior monthly low area w/o breaking
-with market structure being bearish, the next LH should occur in the range of the prior monthly low (green) area
-now pa is testing the area it will either remain a RESISTANCE & form a LH or pa will break thru RES
-a rejection from RES will verify that PA was in a bullish counter-trend
Weekly:
-in order to continue bearish market structure, pa will need to make a LH in the "resistance range"
-bullish momo has been heavy, will the bears be able to take over?
-so far a couple rejections from the RES zone but ultimately last week closed bullish filling in some wicks
-RESISTANCE ZONE IS IMPORTANT
Daily:
-HH made within bullish channel;made at prior monthly low/RES & rejected from said area
-pa has made 3 attempts to break thru RES area w/o succeeding
-pa also has a SUP that it hasnt broken as well
/pa outside of bullish channel again, will this be the break? or another false breakout
/USED CTL TO NOTICE THAT PA MAYBE MAKING A BULLISH PENNANT; LARGE STEEP UPSIDE MOVEMENT, PA RANGING FROM TOP TL TO BOTTOM TL
/FIBS ADDED IN CASE BULL MOMO CONTINUES (HH MADE, SO DREW FIBS FROM LAST HL TO CURRENT HH)
4H:
-pa consolidating between RES & SUP
BULLISH PENNANT (STEEP UPMOVE ON D TF)
15M:
-WATCH TO SEE HOW PA REACTS IN RESISTANCE ZONE
-support made in W SUP 0.6240 zone (LL) recent candle closing as bull inverted hammer like w/ wick to prior monthly low area w/o breaking
-with market structure being bearish, the next LH should occur in the range of the prior monthly low (green) area
-now pa is testing the area it will either remain a RESISTANCE & form a LH or pa will break thru RES
-a rejection from RES will verify that PA was in a bullish counter-trend
Weekly:
-in order to continue bearish market structure, pa will need to make a LH in the "resistance range"
-bullish momo has been heavy, will the bears be able to take over?
-so far a couple rejections from the RES zone but ultimately last week closed bullish filling in some wicks
-RESISTANCE ZONE IS IMPORTANT
Daily:
-HH made within bullish channel;made at prior monthly low/RES & rejected from said area
-pa has made 3 attempts to break thru RES area w/o succeeding
-pa also has a SUP that it hasnt broken as well
/pa outside of bullish channel again, will this be the break? or another false breakout
/USED CTL TO NOTICE THAT PA MAYBE MAKING A BULLISH PENNANT; LARGE STEEP UPSIDE MOVEMENT, PA RANGING FROM TOP TL TO BOTTOM TL
/FIBS ADDED IN CASE BULL MOMO CONTINUES (HH MADE, SO DREW FIBS FROM LAST HL TO CURRENT HH)
4H:
-pa consolidating between RES & SUP
BULLISH PENNANT (STEEP UPMOVE ON D TF)
15M:
-WATCH TO SEE HOW PA REACTS IN RESISTANCE ZONE