Kiwi - price hemmed in by monthly trend and monthly pivot above - weekly pivot and trend below. Pattern is a double bottom with handle - once price breaks handle - demand areas above more then likely will be taken out. Price will be hunting support at the weekly pivot and weekly trend. Alternatively if price is lost below handle then pattern has failed
Comments
kate25
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kiwi breaking above the monthly trend looking for supply zones above
GNR1OL
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thank you kate
short-term what is the target?
kate25
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Price will open below the weekly pivot point unless it gaps up - looks like a retest on the weekly trend line - if it holds then supply is still the goal
kate25
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kiwi now at monthly trend - looking for close .7523 or higher
kate25
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4hr trend adjustment
kate25
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longer view - at about .7526 is where you will see the monthly trend - if we get a close above that - we will get next supply(not demand - thank you James for correcting me) - I think it is going to blow right past that monthly trend myself
kate25
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This may be a problem. Usually when price reaches R3 price will calm back down to daily pivot -
kate25
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The more convoluted daily look - as you can see tons of traffic to head lower - the weekly pivot and daily trend are at the same point - be looking for support right there