after a head and shoulders pattern we see the market reverse to the upside. now after a bullish move we see like a rectangle patten , a sideways movement.
now this broke to the downside , i am expecting a pullback before the continuation to the upside.
now this broke to the downside , i am expecting a pullback before the continuation to the upside.
after price hit our entry zone it went in a sideways movement for a lil bit. It was rejecting the zone that was once support.
Remember : support becomes resistance if broken.
So where did price go to?
Price didnt go way back to the red zone which is like my neckline of the head and shoulders.
I am not surprised. u see , after the neckline got broken you see this retest already which gave us that awesome bullish move.
Now take a close look to the zone where price really started to explode. ( 18 sept - 22:00 )
this zone is very interesting : this is where a lot of buyers entered the market. this is where the real volume was.
So when price enters this zone again , we can expect another big reaction to this zone. this is our Supply & demand zone.
Price went down and wicked this zone , as you see. Again a lot of buyers are getting in this market , reversing the market as i thought it would do.
So we are now seeing a continuation to the upside!
Lets see if we can buy this at a strong support.
I'd like to see our previous resistance where i sold this market being broken and retested.
Leave a comment and tell me what you think!