Hi traders and investors!
This analysis is based on the Initiative Analysis concept (IA).
On the daily timeframe, there is a sideways range with boundaries marked by black lines.
The price has returned inside the range. Buyers absorbed the seller’s candle that interacted with the lower boundary on increased volume (see the related post) — a classic false breakout pattern.
Now, with strong daily candles on rising volume, the buyer is pushing toward the upper boundary of the range. The price has already reached 4500, and next I expect 4800, 5000, and eventually 5,600 (see related posts).
Wishing you profitable trades!
This analysis is based on the Initiative Analysis concept (IA).
On the daily timeframe, there is a sideways range with boundaries marked by black lines.
The price has returned inside the range. Buyers absorbed the seller’s candle that interacted with the lower boundary on increased volume (see the related post) — a classic false breakout pattern.
Now, with strong daily candles on rising volume, the buyer is pushing toward the upper boundary of the range. The price has already reached 4500, and next I expect 4800, 5000, and eventually 5,600 (see related posts).
Wishing you profitable trades!
Wishing you profitable trades!
Clarity on the Chart. Smart Trading Decisions.
No signals. Just clean structure and context t.me/user_friendly_trading
Clarity on the Chart. Smart Trading Decisions.
No signals. Just clean structure and context t.me/user_friendly_trading
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Wishing you profitable trades!
Clarity on the Chart. Smart Trading Decisions.
No signals. Just clean structure and context t.me/user_friendly_trading
Clarity on the Chart. Smart Trading Decisions.
No signals. Just clean structure and context t.me/user_friendly_trading
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.