ETH - MULTI TIME FRAMES - AT A GLANCE - WARNING !
M1 : Ongoing bearish price action
W1 : Last week closing level above MBB triggered a corrective move recovery
towards a high so far of 2750. Still below the weekly pivot level @ 2950
and Tenkan Sen @ 3025
D1 : Yesterday's price action triggered a bullish engulfing pattern which breakout
the clouds on the upside...BUT IT DID NOT BREAKOUT THE TENKAN-SEN YET !!
Watch today's closing level as a failure to move and stay above 2650 would confirm a top in place
in this D1 time frame. On the downside, the former clouds resistance (2175-2425) becomes now
the new support area to watch at.
H4 : Still in an ongoing downtrend price action. Recent recovery is still corrective and countertrend.
Facing now a tough resistance area to break (see the thickness of the clouds !!).
Watch clouds on the upside and cluster (KS,MBB and TS) on the downside to get clues.
H1 : Short term reversal in progress, 2 successive black candles which broke the former support trend line.
Watch MBB as first support, then 2410, below 2360, 2240 ahead of 2118, the last level being also
the H1 clouds support zone.
M30 : Watch the clouds and the former uptrend support line which becomes now the new resistance to break
M15: Currently testing the top of the clouds. A failure to hold above the clouds would confirm the ongoing trend
reversal in progress.
M5 : Clouds broken, followed by a pullback attempt which failed to recover above the clouds. Watch cluster (TS, MBB and KS) ahead of the
clouds resistance.
CONCLUSION : RECENT PRICE ACTION FROM THE LOW SEEN YESTERDAY @ 1728.74 IS A CORRECTIVE MOVE ONLY ND A FAILURE TO CLOSE ON A DAILY
BASIS ABOVE 2372 WOULD CONFIRM A TOP IN PLACE, CALLING FOR LOWER LEVELS !
W1 : Last week closing level above MBB triggered a corrective move recovery
towards a high so far of 2750. Still below the weekly pivot level @ 2950
and Tenkan Sen @ 3025
D1 : Yesterday's price action triggered a bullish engulfing pattern which breakout
the clouds on the upside...BUT IT DID NOT BREAKOUT THE TENKAN-SEN YET !!
Watch today's closing level as a failure to move and stay above 2650 would confirm a top in place
in this D1 time frame. On the downside, the former clouds resistance (2175-2425) becomes now
the new support area to watch at.
H4 : Still in an ongoing downtrend price action. Recent recovery is still corrective and countertrend.
Facing now a tough resistance area to break (see the thickness of the clouds !!).
Watch clouds on the upside and cluster (KS,MBB and TS) on the downside to get clues.
H1 : Short term reversal in progress, 2 successive black candles which broke the former support trend line.
Watch MBB as first support, then 2410, below 2360, 2240 ahead of 2118, the last level being also
the H1 clouds support zone.
M30 : Watch the clouds and the former uptrend support line which becomes now the new resistance to break
M15: Currently testing the top of the clouds. A failure to hold above the clouds would confirm the ongoing trend
reversal in progress.
M5 : Clouds broken, followed by a pullback attempt which failed to recover above the clouds. Watch cluster (TS, MBB and KS) ahead of the
clouds resistance.
CONCLUSION : RECENT PRICE ACTION FROM THE LOW SEEN YESTERDAY @ 1728.74 IS A CORRECTIVE MOVE ONLY ND A FAILURE TO CLOSE ON A DAILY
BASIS ABOVE 2372 WOULD CONFIRM A TOP IN PLACE, CALLING FOR LOWER LEVELS !
