HELLO GUYS:
WEEKLY CHART :
- We have many very long wick candles rejecting the 14k resistance!
- Double Top, notice how the bullish volume for the second peak was decreased!
- Rare weekly bearish divergence! very important one.
DAILY CHART:
- We've been consolidating in this descending triangle.
- We've broken and retested the red trendline shown on the chart.
- We've got rejected from the top of the triangle, very likely going to touch the bottom of the triangle 9300-9400 area.
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For the confirmation to the downside we need to see a break of the bottom of the triangle with heavy volume. and wait for the pullback ( in this case a very shallow pullback is expected ) go to lower timeframes 4H - 1H - 15M to make sure the pullback is over and the downward move resumes.
My target is around 7200-7600, that's the zone I'm planning to add to my inventory at. if that never comes then it's fine, there will be many more opportunities.
I try to keep it as simple as possible, LESS IS MORE.
Do yourself a favor and stay away from the lower timeframes if your not day trading or your new to trading. and hey please stop listening to all the moon boys out there who keep changing their positions on the market and have no clue what they're doing. funny how they get all this reputations probably because the market is filled with noobs calling for moon analysis. anyways, NEVER PREDICT THE MARKET, WAIT FOR THE MATKET TO SHOW YOU WHATS COMING NEXT!
PLEASE GIVE IT A LIKE IF YOU FIND ANY VALUE!
WEEKLY CHART :
- We have many very long wick candles rejecting the 14k resistance!
- Double Top, notice how the bullish volume for the second peak was decreased!
- Rare weekly bearish divergence! very important one.
DAILY CHART:
- We've been consolidating in this descending triangle.
- We've broken and retested the red trendline shown on the chart.
- We've got rejected from the top of the triangle, very likely going to touch the bottom of the triangle 9300-9400 area.
-----------------------------------------------
For the confirmation to the downside we need to see a break of the bottom of the triangle with heavy volume. and wait for the pullback ( in this case a very shallow pullback is expected ) go to lower timeframes 4H - 1H - 15M to make sure the pullback is over and the downward move resumes.
My target is around 7200-7600, that's the zone I'm planning to add to my inventory at. if that never comes then it's fine, there will be many more opportunities.
I try to keep it as simple as possible, LESS IS MORE.
Do yourself a favor and stay away from the lower timeframes if your not day trading or your new to trading. and hey please stop listening to all the moon boys out there who keep changing their positions on the market and have no clue what they're doing. funny how they get all this reputations probably because the market is filled with noobs calling for moon analysis. anyways, NEVER PREDICT THE MARKET, WAIT FOR THE MATKET TO SHOW YOU WHATS COMING NEXT!
PLEASE GIVE IT A LIKE IF YOU FIND ANY VALUE!