Background:
The downtrend is still intact , nevertheless price managed after forming a higher low to breach a downtrendline and form a higher low , price managed to break a resistance level @1.108ish* and therefore shows some potential to rise
with the next res. level @1.135ish a former MP of an indecision level
Signs of Strenght:
Signs of Weakness:
Key Levels above current price:
@1.13500
@1.15400
Key Levels below current price:
@1.10200
@1.0800
footnote:
*Any Broken resitsance can be used to unload remaining supply to the uninformed trader in order to
fullfill the orders in ones remaining books, hence a fakeout will unfold if the stronghands are unloading their supply
into fresh and scared money all running in the same direction at the same time , without causing the price to drive lower , where the fresh money is aggressive bulls with buy stop orders above the res. level. and the scared money beeing the weak shorts buy stops aswell at or above the res. level... this demand can and will be used by informed strong holders to unload and or enter shorts without causing price to move against ones own selling interrest-
but this type of action of unloading ie. exchange supply from stromg to weak hands will be whitnessed in several ways one obvious way is of course if price trades way back into a range and or below a resistance level... ie. creating a fakeout
The downtrend is still intact , nevertheless price managed after forming a higher low to breach a downtrendline and form a higher low , price managed to break a resistance level @1.108ish* and therefore shows some potential to rise
with the next res. level @1.135ish a former MP of an indecision level
Signs of Strenght:
- Higher Low
- Broken Downtrendline
- Broken Resistance
Signs of Weakness:
- Downtrend
Key Levels above current price:
@1.13500
@1.15400
Key Levels below current price:
@1.10200
@1.0800
footnote:
*Any Broken resitsance can be used to unload remaining supply to the uninformed trader in order to
fullfill the orders in ones remaining books, hence a fakeout will unfold if the stronghands are unloading their supply
into fresh and scared money all running in the same direction at the same time , without causing the price to drive lower , where the fresh money is aggressive bulls with buy stop orders above the res. level. and the scared money beeing the weak shorts buy stops aswell at or above the res. level... this demand can and will be used by informed strong holders to unload and or enter shorts without causing price to move against ones own selling interrest-
but this type of action of unloading ie. exchange supply from stromg to weak hands will be whitnessed in several ways one obvious way is of course if price trades way back into a range and or below a resistance level... ie. creating a fakeout