Good morning, traders. Yesterday's YouTube video updated was titled "Are you ready for the bounce?" and we did get the bounce. In Discord, I made sure our members were aware of the bullish divergence on the H1 (which also showed up on the H4) following the TD 9 on the H6 which warned us that this move was likely incoming. The RSI resistances on the various TFs that I mentioned yesterday were broken as well which should've signaled for traders to go long. Price is now above channel resistance, as well as the H1 and H4 21 EMAs, and has an immediate target of $10360-$10415. Reaching this price level will pull price above the H4 pivot and back above the TR support. My green and orange box targets still remain valid at this time. I have noted the next level of H4 resistance for RSI to get through and that appears to coincide with the descending dashed resistance above price.
The daily is printing a large bullish engulfing candle after a short downtrend. Stoch RSI is targeting a bullish cross if price closes here or higher at the end of the day. The daily pivot stands at ~$10700 and a close above it will have price above the 21 EMA as well which would be bullish for the pair. There is a daily supply block at $11336-$11804. Zooming out to the daily chart, you will see it highlighted in blue and can note that it sits just at/below the 2018 TR resistance (red horizontal line). You can also note that my green target box is at the upper half of that block.
I outlined the very local TR and price movement on the M15. The recent price drop this morning appears to be nothing more than a retest of previous swing high resistance as support at the EQ of the blue zone which printed hidden bullish divergence on the M15. It may have printed it on the M30 as well, but we need to see price heading up from here to confirm it. I have also included the current possible ascending channel that I am watching at this time. Right now, we want to see the M15 R1 pivot continue to hold as support and price to rise from here.
I will be live streaming about this and more in about 50 minutes at 10 a.m. CST/3 p.m. UTC on the YouTube link below.
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Be sure to hit the "thumbs up!"
Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life.
You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
The daily is printing a large bullish engulfing candle after a short downtrend. Stoch RSI is targeting a bullish cross if price closes here or higher at the end of the day. The daily pivot stands at ~$10700 and a close above it will have price above the 21 EMA as well which would be bullish for the pair. There is a daily supply block at $11336-$11804. Zooming out to the daily chart, you will see it highlighted in blue and can note that it sits just at/below the 2018 TR resistance (red horizontal line). You can also note that my green target box is at the upper half of that block.
I outlined the very local TR and price movement on the M15. The recent price drop this morning appears to be nothing more than a retest of previous swing high resistance as support at the EQ of the blue zone which printed hidden bullish divergence on the M15. It may have printed it on the M30 as well, but we need to see price heading up from here to confirm it. I have also included the current possible ascending channel that I am watching at this time. Right now, we want to see the M15 R1 pivot continue to hold as support and price to rise from here.
I will be live streaming about this and more in about 50 minutes at 10 a.m. CST/3 p.m. UTC on the YouTube link below.
_____________________________________________________________
Be sure to hit the "thumbs up!"
Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life.
You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
