WLFI on the 4H timeframe is currently trading around 0.0602 while being compressed inside a tightening structure formed by a descending resistance trendline from the May highs near 0.0760 and a rising support trendline from the April lows near 0.0513.
Price bounced aggressively from the April low, rallied toward the descending resistance, got rejected, and has since been making lower highs while the rising trendline continues to climb from below, squeezing price into an increasingly tight range.
Both trendlines are now converging and a directional move is approaching.
Key Levels To Watch
0.0760–0.0780 → Prior highs, major resistance above
0.0700 → Descending resistance trendline, overhead ceiling
0.0620–0.0640 → Minor resistance, prior consolidation zone
0.0602 → Current price, approaching lower structure
0.0585 → Rising support trendline, current floor
Below 0.0513 → Full structure breakdown
As long as WLFI remains inside this tightening compression, structure is neutral and a directional expansion is pending.
A clean break and close above the descending resistance near 0.0700 would signal a bullish resolution and open room toward 0.0760–0.0780.
A breakdown below the rising trendline near 0.0585 would resolve the compression to the downside and open room toward 0.0513 and below.
This is a compression setup approaching the apex.
Break above 0.0700 → compression resolves bullish, eyes on 0.0760–0.0780.
Lose 0.0585 trendline → breakdown confirmed, eyes on 0.0513.
Neutral inside compression.
Bias only on confirmed breakout or breakdown.
Price bounced aggressively from the April low, rallied toward the descending resistance, got rejected, and has since been making lower highs while the rising trendline continues to climb from below, squeezing price into an increasingly tight range.
Both trendlines are now converging and a directional move is approaching.
Key Levels To Watch
0.0760–0.0780 → Prior highs, major resistance above
0.0700 → Descending resistance trendline, overhead ceiling
0.0620–0.0640 → Minor resistance, prior consolidation zone
0.0602 → Current price, approaching lower structure
0.0585 → Rising support trendline, current floor
Below 0.0513 → Full structure breakdown
As long as WLFI remains inside this tightening compression, structure is neutral and a directional expansion is pending.
A clean break and close above the descending resistance near 0.0700 would signal a bullish resolution and open room toward 0.0760–0.0780.
A breakdown below the rising trendline near 0.0585 would resolve the compression to the downside and open room toward 0.0513 and below.
This is a compression setup approaching the apex.
Break above 0.0700 → compression resolves bullish, eyes on 0.0760–0.0780.
Lose 0.0585 trendline → breakdown confirmed, eyes on 0.0513.
Neutral inside compression.
Bias only on confirmed breakout or breakdown.
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.