Forex_Trader21

Forex_Trader21

seeing an opportunity to go long here. on a macro level we can see how the daily candle had a strong rejection/ high buying pressure off the lows of the year/ a strong weekly level. which gives me an indication of a buying opportunity. when we look at the micro-level on the 4hr/1hr we can see price is starting to stall around the 50-68.2% fibo area which lines up...

Forex_Trader21

on a micro-scale, we can see how price broke a weekly support level and retesting it forming our new resistance while forming a sideways correction into a triangle. not long before breaking it and retesting that triangle as it touches the downward trendline aswell . notice how volume decreases on the retest telling us that big money is not interested in the...

Forex_Trader21

price broke through a support level and came back up to retest it that lines up with the trendline. Looking at PA we can see a strong rejection bar with ultra-high volume which tells us market weakness and insiders can be potentially selling out. we also touched the 50-68.2% fibo giving us extra confluence. on the daily we got a strong bearish engulfing candle...

Forex_Trader21

my personal thoughts it broke the upwards trendline and price has reached a falling three method contiuation pattern. And on the 4hr you can see an englufing revarsal that broke the 4hr support