Monthly trend up, Weekly trend up, Daily trend up. When daily trend breaks it will reallign with weekly demand level (green box) the weekly level has a strong departure, one massive 80% erc (extended range candle) compact base, consolidation away, 2:1 move from the level.
Also daily level (blue box) has a great move away with a gap up, 4 candle compact base,...
Monthly trend is up, Weekly trend is up. Nice weekly bull engulf. within that level is a daily level with a nice departure. 2 80% erc (extended range candles that close near 80% of their range) with a big gap. single candle base on the daily.
How to read my charts -
Blue is daily level and trendline
Green is weekly level and trendline
orange is Monthly level...
Monthly supply in control. Weekly supply in control. This is a major reversal that could reach opposing demand at 1100.00. There is new valid demand 124.42. This will be a great short. There are probably great nested 4 hr levels in that demand area. There is also definitely room for a 3:1 profit target.
We have hit a stacked level of 3 months (grey) , 1 month (orange), and weekly (green) level of demand
As a reaction off that level we have broken daily descending daily trendline (blue)
we ave removed a valid daily level (blue) of supply and created a new ascending daily TL.
Now we have a H4 (4 hour) level to go long
This 4 hour level is the level that removed...