M5 : After having reached an intraday low of 0,517330, a "very" short term
bullish divergence took place, which has been confirmed by a bullish engulfing
pattern. Failure to breakout the Mid Bollinger Band (MBB) and to reenter in the former
downtrend channel, triggered a downside move again in the direction of the former
low above mentioned @ 0.517330. (Potential double bottom pattern !)
Watch carefully price action in the upcoming M5 period (s) which would validate or invalidate
this potential double bottom !!
A confirmation of this pattern would put the focus on the trigger level of this formation @ 0.5475, which
is also the level of MBB and the level of the bottom line of the former downtrend channel...
Such kind of price action would put the focus on 0.5538, 0.515651 ahead of 0.5764 which would still
be a corrective move only , the latter level mentioned being still below the clouds.
M15 : Recovery failure to reenter in the broad sideways channel with just aboe its first resistance
(TS). Watch carefully upcoming price action which would validate or invalidate the sideways channel
breakout
M30 : Roughly in the middle of a ongoing downtrend channel and below the clouds
CONCLUSION :
It is an ongoing screening process, watch carefully at each time frames from M5 to M30
to get clues.
Analysis on longer time frames will follow soon.
Have a nice trading day
All the best
Take care
Ironman8848
bullish divergence took place, which has been confirmed by a bullish engulfing
pattern. Failure to breakout the Mid Bollinger Band (MBB) and to reenter in the former
downtrend channel, triggered a downside move again in the direction of the former
low above mentioned @ 0.517330. (Potential double bottom pattern !)
Watch carefully price action in the upcoming M5 period (s) which would validate or invalidate
this potential double bottom !!
A confirmation of this pattern would put the focus on the trigger level of this formation @ 0.5475, which
is also the level of MBB and the level of the bottom line of the former downtrend channel...
Such kind of price action would put the focus on 0.5538, 0.515651 ahead of 0.5764 which would still
be a corrective move only , the latter level mentioned being still below the clouds.
M15 : Recovery failure to reenter in the broad sideways channel with just aboe its first resistance
(TS). Watch carefully upcoming price action which would validate or invalidate the sideways channel
breakout
M30 : Roughly in the middle of a ongoing downtrend channel and below the clouds
CONCLUSION :
It is an ongoing screening process, watch carefully at each time frames from M5 to M30
to get clues.
Analysis on longer time frames will follow soon.
Have a nice trading day
All the best
Take care
Ironman8848
Comment:
reentering in the downtrend channel !
Comment:
likely to see further very short term recovery towards the clouds resistance zone 0.5538-0.5764
Comment:
short term recovery target 0.5764 reached M5)
WATCH THE CLOUDS ON M5 and M15
WATCH THE CLOUDS ON M5 and M15
Comment:
M5/M15 : double top in progress (trigger@ 0.5645)!
Watch clouds on M15
Watch clouds on M15
Comment:
M5 : watch former double top @ 0.5989 (breakout would confirm uptrend continuation (see implication on M15 et M30 below
M15 :Ascending triangle in progress, watch resistance line breakout. potential target 0.6300
M30 : watch exit breakout of the downtrend channel + cross over of the clouds for confirmation
M15 :Ascending triangle in progress, watch resistance line breakout. potential target 0.6300
M30 : watch exit breakout of the downtrend channel + cross over of the clouds for confirmation
Comment:
target @ 0.6300 reached !
Russian mountains :-)
monitor carefully very, very short term time frames.
I will give you update this pm. It is time for me to go indoor climbing which excellent for my mind :-)
Russian mountains :-)
monitor carefully very, very short term time frames.
I will give you update this pm. It is time for me to go indoor climbing which excellent for my mind :-)
