Quick analysis inside what is going on with this pair. There is some bullish vibes going on. Strong bullish candles have closed.
Waiting for a close above the neckline in the 4TF. I suspect a double bottom going on here! But be cautious a rejection could occur and send it down BEFORE IT GOES UP.
Nothing fancy guys! Simply using MARKET STRUCTURE. In this short example which was my live trade 8-19-2021 shows how market structure is a valuable indicator when trading. Not the ONLY indicator but very useful!
CHART DRAWING COLORS representation:
Daily Timeframe, the outline colors around boxes are BLUE
Red color; buy liquidity areas (rejection spots)
Light...
Short idea of using this Elliot Wave looking at a crypto currency "Shiba Inu". Using the bullish channel trend line, seeing the price go to the upside. Finally the price meets a Buy Liquidity zone and price is facing resistance pushing it down to a demand zone for buys.
I see this price falling back down to where resistance was once used inside the bullish...
Using quarter theory to possibly place a short buy here. The trend may continue being rejected off the quarter theories(which are previous supports that are now resistance levels. This trade tactic is a counter move setup the larger play to sell all the way to SUPPORT.
This is a quick analysis of a counter move to the market using fundamentals in trading....
