This chart is analysed in two time frames
1. Weekly Time frame
2. Daily time frame
Tools / Indicators used
1. Trend lines
2. pivots
Analysis
1. IN weekly chart it is clear that the trendline was successfully broken which indicates the presence and interest of buyers at such levels. Implies buy side opportunity
2. IN daily chart it is clear that the trendline was successfully broken . and the price is sustained above pivot levels. which means price is stronger.
case 1:
for sure it is clear that buyers are strong. now price may continue its momentum upside.
case 2:
The probability of price retesting the weekly trend line and Daily pivot also be seen.
Though it may retest or not price may move up.
1. Weekly Time frame
2. Daily time frame
Tools / Indicators used
1. Trend lines
2. pivots
Analysis
1. IN weekly chart it is clear that the trendline was successfully broken which indicates the presence and interest of buyers at such levels. Implies buy side opportunity
2. IN daily chart it is clear that the trendline was successfully broken . and the price is sustained above pivot levels. which means price is stronger.
case 1:
for sure it is clear that buyers are strong. now price may continue its momentum upside.
case 2:
The probability of price retesting the weekly trend line and Daily pivot also be seen.
Though it may retest or not price may move up.
Trade active
Case 1 is always active based on the analysis . Note
price has been supported by pivot multiple times
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.