Trading Analysis:
Last Week's Movement:
-Observing the doji candle indicating a balance between buyers and sellers.
-It's important to be cautious as a doji can signal a reversal or continuation of the trend.
H1 Time Frame:
-Identifying the quasimodo pattern on the chart, often indicating a change in the market direction.
-Noticing divergence on the AO indicator, strengthening the view of a potential change in direction.
This Week's Market Prediction:
-Confidence that the market will transition from an uptrend to a downtrend.
-The breakout from the lower trendline suggests a possible trend reversal.
-The current market correction needs to be observed as part of the directional change process.
-Additionally, bearish divergence has been identified, where the price is reaching higher highs while the technical indicator is making lower highs. This indicates a weakening momentum despite the bullish sentiment in the market, increasing the likelihood of a rapid decline in prices.
Last Week's Movement:
-Observing the doji candle indicating a balance between buyers and sellers.
-It's important to be cautious as a doji can signal a reversal or continuation of the trend.
H1 Time Frame:
-Identifying the quasimodo pattern on the chart, often indicating a change in the market direction.
-Noticing divergence on the AO indicator, strengthening the view of a potential change in direction.
This Week's Market Prediction:
-Confidence that the market will transition from an uptrend to a downtrend.
-The breakout from the lower trendline suggests a possible trend reversal.
-The current market correction needs to be observed as part of the directional change process.
-Additionally, bearish divergence has been identified, where the price is reaching higher highs while the technical indicator is making lower highs. This indicates a weakening momentum despite the bullish sentiment in the market, increasing the likelihood of a rapid decline in prices.