On the daily timeframe, the price is consolidating. The current buyer's vector 10-11 has not yet reached its targets. The price movement has stalled in the range of 70,400-72,000. The price is currently within the daily candle of May 20, 2024, which has the highest volume in the buyer's vector 10-11 (marked "tKC" on the chart). You can look for buying opportunities from this daily candle with the goal of reaching the vector 10-11 targets (72,800, 73,777). To find trading opportunities, let's examine the lower timeframes.
On the hourly timeframe, there is a buyer's trend. The last buyer's impulse started from 68,905. The price corrected to this level, but we haven't seen active buying. The candle with the highest volume in the correction is at the beginning of the correction (marked "tKC" on the chart). For comparison, let's look at the situation from May 17-19.
Similarly, on the hourly timeframe, there was a buyer's trend. The price corrected to the 50% level, we did not see active buying, but the candle that interacted with the 50% level had the highest volume in the correction (marked "tKC" on the chart). The buyer absorbed this candle, leading to a new buyer's impulse on the hourly timeframe.
Currently, on the hourly timeframe, we do not observe anything similar. Moreover, the buyer failed to overcome the 50% level of the last impulse (70,442).
Let's additionally look at the 200-minute timeframe. We see a consolidation; the price exited the upper boundary of the range (67,700). A correction occurred to the 50% level of the last impulse (68,919). The volume of the candle interacting with the 50% level is less than that of previous candles, indicating a lack of active buying (spread, volume). On this timeframe, buying opportunities can be sought either from the key candle ("KC" on the chart), although we have not yet seen a good resumption, or from the buyer defending the boundary of the range at 67,700.
Additionally, on the 30-minute timeframe, there are still no good patterns for buying.
It is advisable to look for buying opportunities:
Currently, there is no context for looking for selling opportunities.
On the hourly timeframe, there is a buyer's trend. The last buyer's impulse started from 68,905. The price corrected to this level, but we haven't seen active buying. The candle with the highest volume in the correction is at the beginning of the correction (marked "tKC" on the chart). For comparison, let's look at the situation from May 17-19.
Similarly, on the hourly timeframe, there was a buyer's trend. The price corrected to the 50% level, we did not see active buying, but the candle that interacted with the 50% level had the highest volume in the correction (marked "tKC" on the chart). The buyer absorbed this candle, leading to a new buyer's impulse on the hourly timeframe.
Currently, on the hourly timeframe, we do not observe anything similar. Moreover, the buyer failed to overcome the 50% level of the last impulse (70,442).
Let's additionally look at the 200-minute timeframe. We see a consolidation; the price exited the upper boundary of the range (67,700). A correction occurred to the 50% level of the last impulse (68,919). The volume of the candle interacting with the 50% level is less than that of previous candles, indicating a lack of active buying (spread, volume). On this timeframe, buying opportunities can be sought either from the key candle ("KC" on the chart), although we have not yet seen a good resumption, or from the buyer defending the boundary of the range at 67,700.
Additionally, on the 30-minute timeframe, there are still no good patterns for buying.
It is advisable to look for buying opportunities:
- After the seller's attack on the 68,900 level (observe the volume and result of the attack) and the buyer defending this level.
- After the seller's attack on the 67,700 level (observe the volume and result of the attack) and the buyer defending this level.
Currently, there is no context for looking for selling opportunities.
Good luck with your trading!
