Please refer to the attached educational video on study of price action. We always want to wait for confirmation before entering any position. Price is currently at a key zone in the market. We cannot assume that price will respect this key level in terms of a reversal for a buy or a continuation for a sell. We must watch price action.
Today we had an impulse to the downside after consolidation. Price is currently sitting at a key level/area of support in the market. We can expect a flag/correction. Afterwhich, price can reverse at this key level / area of support in the market and make a bull run. It can also continue its bearish trek by breaking the trendline, and continuing in a sell toward the next zone. If price breaks this trendline, this will be a significant move, as price as respected this trendline since early 2019. We are currently in an overall bull market but break of this trendline could cause us to see a reversal of the overall bull run. As always watch for impulsive movement and also a flag / retest to confirm along with your other confluences.
This post is for educational and demonstration purposes only. Trade at your own risk.
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Today we had an impulse to the downside after consolidation. Price is currently sitting at a key level/area of support in the market. We can expect a flag/correction. Afterwhich, price can reverse at this key level / area of support in the market and make a bull run. It can also continue its bearish trek by breaking the trendline, and continuing in a sell toward the next zone. If price breaks this trendline, this will be a significant move, as price as respected this trendline since early 2019. We are currently in an overall bull market but break of this trendline could cause us to see a reversal of the overall bull run. As always watch for impulsive movement and also a flag / retest to confirm along with your other confluences.
This post is for educational and demonstration purposes only. Trade at your own risk.
Please like/comment and also be sure to follow this idea by clicking the follow button in the lower right hand corner. Also, please ensure your notifications are turned on. Please also follow me on Facebook and Instagram (links below).
