jojofang0901

Binance Coin Look out for bullish reversal price action

Long
BINANCE:BNBUSD   Binance Coin / US Dollar (calculated by TradingView)

Hi traders:

BNB also caught my eye for the potential up move.

We can see after price initially made the bearish move down, it begin to form a bigger correctional structure.

As we can see price is getting squeeze into this triangle/ pennant like structure, with a few swing highs and lows.

What is important here is to determine is is going to be a continuation correction to go lower, or a reversal correction to go higher ?

To me, what I like about the price development is that we are seeing some LTF bullish impulse phase, breaking above the HTF structure.

The last confirmation would be to look for lower time frames bullish continuation correction to confirm the move up, at least to the previous swing highs area.

Thank you
Comment:
Comment:
Comment:
Myfxbook (Real, Live Account Verified): https://bit.ly/3lLB0fP
Free Telegram Channel (Forecast, Analysis, Updates, Live Stream, Lessons, Q/A): https://bit.ly/3kllWnV
Complete Price Action Analysis Workshop (Impulse & Correction): https://bit.ly/3zpZ2BL

Comments

@Babenski thank you 😊
Reply
Looks like a very likely scenario. Thanks, I’m looking forward to it. 😊
+1 Reply
jojofang0901 financialflagship
@financialflagship great let’s see how it develops
Reply
Great one just like always !
Appreciate your great work mate ❤️
Thanks for sharing your outlook 😃
+1 Reply
jojofang0901 Helical_Trades
@Helical_Trades, your welcome thx :)
Reply
Excellent job!
+1 Reply
jojofang0901 ForexTrendline
@ForexTrendline, appreciate it thx
Reply
well done. nice overview.
+1 Reply
jojofang0901 ProjectSyndicate
Reply