Too many information on charts. What's a trader to do? Put context around it to filter and see the important stuff. Price got rejected at the upper U-MLH (!) Here we are again. Another rejection will shoot price down to the centerline again (...maybe). If price can manage to crawl up to the orange line - I call this the 1-Line-Trade - I looking for signals to...
Pending Call Option EOD Prices should reach the median line on a regular basis during an uptrend by EOD
The turning point would be between 2980 and 3010 , due to strong structure levels as horizontal and lines support and resistance are all consolidate at the same zone.
Description in chart and daily context below
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At this point I would expect a buyers "trap" around the area where the TC was activated (Blue arrow), in this order of ideas if the price is unable to keep pushing higher I would be looking to take a short position, off course based on the price action
The price has an acceleration to the downside and in the most immediate context the price fits its price action within the boundaries of a TC, therefore if the price breaks the TC then a short could be triggered, looking for a continuation of the downtrend
Description on the chart and overall context below
Description in the chart *1) Overall context: Down trend (Lower Lows and Lower Highs- Red lines)
General thought... make what you will of it.
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POTENTIAL BULLISH GARTLEY PATTERN COMBINED WITH STRUCTURE
At this point the price has been unable to keep moving lower, therefore the most immediate down trend channel is no longer valid because it doesn’t represent the price behavior. Therefore until now after two trend channels that have failed to consolidate its movement (uptrend and downtrend) now one can identify an area of congestion where the buyers and sellers...