Market broke uptrend , currently respecting a downtrend. Broke support and now its respecting a resistance which may form a double top. I wait for 1 hr candle close to confirm reversal structure stoploss above last candle close takeprofit at next support
Market broke my resistance who is now support. Safe entry is waiting for pullback at last zone break. although candle with heavy bullishg volume close in our range which means should head up long term. Daily also formed a morning star candle pattern which is bullish continuation.
REJECTED DAILY RESISTANCE WITH BEARISH ENGULFING CANDLE. BROKE UPTREND ON 1HR TIMEFRAME AND REJECTED BROKEN SUPPORT WITH AN INVERTED HAMMER. EXPECTED TO GO ALL THE WAY TO DAILY SUPPORT. CONFIRMATIONS WITH BEARISH INDICATING CANDLES
WE HAVE A POSSIBLE DOUBLE TOP LAST KISS AT 4 HOUR RESISTANCE. REJECTION CANDLES AT THIS POINT MEANS LACK OF BULLISH VOLUME WHICH MEANS IT SHOULD DROP TO THE LAST ZONE, WHICH WOULD BE THE 113.200 PRICE AREA REGION
WE SEE 2 POSSIBLE SCENARIOS FORMING. PRICE HAS FORMED A DOUBLE TOP AT WEEKLY RESISTANCE WITH EXHAUSTION CANDLES WHO REPRESENT THE LACK OF VOLUME TO THE UPSIDE. THIS CAN BE ADDRESSED AS A CHANGE OF DIRECTION TO THE LAST ZONE OR SUPPORT MARKET HAD PREVIOUSLY TRADED AT. WE CAN ALSO SEE THE FORMATION OF A POSSIBLE SHOULDER HEAD SHOULDER PATTERN. THIS IS WHAT GIVES US...