Right guys it slipped my mind to pay my Pro account so I've been fighting pop-ups like a madman to bring you this analysis.
Lets get going.
-In #A we can see a rally on (slightly) declining volume after a bounce of the 18055 mark. Looking down at the DMI indicator it looks like its more a case of the bears losing power than the bulls convincingly...
Right, lets get going.
- Here we can see price for the first time not reach new highs after a rally since Jan 2017 , even though volume profiles on the retracement as well as the (albeit weaker) rally number (2) look healthy. The long upper wicks at the top of of rally number (2) possibly shows a area of Supply.
-Looking down at the DMI Indicator, it can be...
(IN MY INFINITE IGNORANCE)
PRICE AND VOLUME HAVE BULLISH TENDENCIES WITH PROMISING VOLUME PATTERNS AND A BIG BULLISH CANDLE OFF 22$ RESISTANCE.
ACCORDING TO THE ADX, WE ARE RANGING - BUT INDICATORS SHOW SIGHS OF A POSSIBLE REJECTION (REVERSAL) TO THE DOWNSIDE.
ANY ADVICE, INPUTS, CONCERNS AND THOUGHTS WOULD BE APPRECIATED.
-POSSIBLE HEAD AND SHOULDERS REJECTION PATTERN WITH A TARGET OF 68$ - RIGHT ON SUPPORT
-REJECTION CANDLE FROM 84$ WITH MULTIPLE PREVIOUS REJECTIONS FROM THE ZONE.
-INCREASING BEAR VOLUME ON RIGHT SHOULDER DOWNTURN - COULD BE UNDERLYING PRICE WEAKNESS?
-RSI SHOWS EARLY SIGNS OF REJECTION OF 49 LEVEL
-STOCHASTIC POSSIBLE CROSSING OF %K OVER %D...
- PRICE IS AT MAJOR RESISTANCE AND RANGING
- DECLINING VOLUME ON PREVIOUS RALLY - POSSIBLE WEAKNESS?
- RSI IS AT RESISTANCE AND SHOWS EARLY SIGNS OF REJECTION
- STOCHASTIC POSSIBLE CROSSOVER OF %K OVER %D IN OVERBOUGHT RANGE
NOTE: i MAY HAVE ENTERED TO SOON, AS I HAVE NO CONFORMATION FROM MY STOCHASTIC YET (COULD HAVE WAITED FOR CONFORMATION VIA AN EXIT OF...