A break upside 0.28 on SOS would make 0.30 as next target, and 0.35 if demand would be maintained. But supply has been showing presence some move to the downside is probably going to happen first, which could give us a even better buying entry. So if it would go lower, there's some sell scalping opportunity, but being able to read when that supply would be weakening is a must. I would specifically around.
Monthly
Showed demand absorption of demand when reached 0.35 stopping the price. But demand was so heavy even if it got absorbed that I do expect more testing of 0.35
Weekly
On the week closure of the 16th, price made a retracement of the HH to 0.35 showing heavy supply absorption at 0.278 , stopping the price. But since this supply absorption was still pretty heavy, a decrease of the supply would need to happen so more testing of lower level for a decrease of it, before any move up. As we can see the following week with a test of the lower area of 0.261., showing a decreased supply with absorption of it, but still a considering presence. Which would need more decreasing of it, so we have another test of the zone of 0.27 showing this time, a even more decrease . And all of this is so magically logically mathematically BEAUTIFUL. But was heavy the last month and would still probably make some attempt, and would need more decrease of it.
Daily
On the 26th printed bearish candle on heavy supply and even if on the 27th did print a engulfing with demand presence, the retracement make it invalid considering that on the 28th/29th/30th the selling interest showing still aggressive presence.
Monthly
Weekly
Daily
On the 26th printed bearish candle on heavy supply and even if on the 27th did print a engulfing with demand presence, the retracement make it invalid considering that on the 28th/29th/30th the selling interest showing still aggressive presence.
Trade active:
retest of 0.305 on light supply could be another entry opportunity while it moves to 0.35
Trade closed: target reached