Monthly:
Last month, price react on monthly key support with long wick rejection from the area and we expecting a reversal/bullish momentum
Weekly:
However, price reverse from weekly resistant level. Price had rejected the same area few weeks before. So we have short term bearish movement. We need to have bullish price action to support our monthly bullish bias
Daily:
Price has broke the daily trendline indicating strong bearish movement. However this is the first correction the price made since 20 Aug. Even tough price is currently bearish, it still within the structure of HH and we expect the current correction process will complete with HH&HL formation
There is no divergence identify in Daily to spot an early reversal however we may use minor Daily level & fibo level to gauge the possibility of bullish reversal. We use resistant trendline to measure any price breakout and switch to intraday timeframe for an entry if we have confirm the bullish signal on daily
Last month, price react on monthly key support with long wick rejection from the area and we expecting a reversal/bullish momentum
Weekly:
However, price reverse from weekly resistant level. Price had rejected the same area few weeks before. So we have short term bearish movement. We need to have bullish price action to support our monthly bullish bias
Daily:
Price has broke the daily trendline indicating strong bearish movement. However this is the first correction the price made since 20 Aug. Even tough price is currently bearish, it still within the structure of HH and we expect the current correction process will complete with HH&HL formation
There is no divergence identify in Daily to spot an early reversal however we may use minor Daily level & fibo level to gauge the possibility of bullish reversal. We use resistant trendline to measure any price breakout and switch to intraday timeframe for an entry if we have confirm the bullish signal on daily