When a markets leaves an extreme and goes to the next we want to see divergence as proof that price is being rejected out those limited and when we a response that don’t divergence we need to be cautious.
So here from the high we have bearish divergence that sold until the low extremes. Now on the first touch we expect rejection but we want to see divergence out as well. Here we don’t have that on this timeframe but price is making highs.
The structure of price is in a bearish continuation pattern with low high lower low higher sequences strong strength with l1 to l2 have a retrace at the .6 showing bullish strength to us as a manipulation to encourage buying! I’m expecting a higher high at current level with a fast bearish response back into the trading range with a high tail off the average
let’s see the outcome 🤷🏾♂️
So here from the high we have bearish divergence that sold until the low extremes. Now on the first touch we expect rejection but we want to see divergence out as well. Here we don’t have that on this timeframe but price is making highs.
The structure of price is in a bearish continuation pattern with low high lower low higher sequences strong strength with l1 to l2 have a retrace at the .6 showing bullish strength to us as a manipulation to encourage buying! I’m expecting a higher high at current level with a fast bearish response back into the trading range with a high tail off the average
let’s see the outcome 🤷🏾♂️