Monthly: Overall Ranging , Most recent two candles show that buyers are in control Weekly: Overall Bearish, Price is Currently Retracing and may find resistance at current level. Daily SETUP : Overall Bullish, Price has broken resistance, creating a CHOCH Confluence #1 , Found Support @ 38.2% (FIBONACCI) Confluence #2 , Price forms a Bullish Engulfing Pattern...
Whole U.S equity is in a downtrend, from a macro standpoint I don't think the market has price in the future interest rates hikes... There is still downward preasure from a pure technical point a view : -Price is in a downtrend -Finding resistance -RSI getting into overbought zone in low timeframe inciting a imminent correction. and from a fondamental view...
Price has began Consolidating at a Known Pivot Point that hasn't been touched since 2020 and 2018. (Weekly Wicks/Buyer Exhaustion) H4 shows Break of structure/Support to push down. Price is very choppy currently where it is. (Countertrending Break/ Support Break) 2 OPTIONS: 1. Price on H4 has already broken support and it now at NEW found Resistance but...
Key NOTES Price is Overall Extremely Bullish and looks to be ready for a bullish continuation push. 2H Break of Resistance signifies a buyers could be stronger at the moment. Price has hit a Known PIVOT POINT that has not been touched since 2017. 2 Options 1. Price could resume its bullish push, just waiting for a some bullish variation/engulfing...
Price is overall Bullish ! (Monthly, Weekly, Daily) ***Based Off Pure Price Action Market Structure*** Currently Ranging in a triangle which will eventually POP! Price has 3 options. 1. To Pop Triangle Resistance created NEW FOUND SUPPORT to continue its Bull RUN! 2. Somehow break Support of the Triangle and creating NEW FOUND Resistance to PUSH price Further...
These is the moment of truth guys let's see how the market decides :) Be safe guys "Just keep it simple"
Possible the price goes lower to the S/D Zones
Relative High was broken at Purple Horizontal Line Price should retest in found support then take off !! Projection: 1.33528