I expect a retracement back down to 1800-1810 and then some move upward when reaching the area. Because even if the buying interest did almost made it break upside 1870, supply was still way important and needed to be weakened Even if from the week of the 03 May to the week of 24 May price showed presence of demand power, it weakened approaching the 1915 area....
Weekly; 17/05/21; price closed the week on heavy supply volume with a stop in action resulting from a move downward to the 30k area. For after dancing on the support zone the weeks after. Which at these point we already have cues that with supply being this much in power, many more test of the 30k would likely happens before it moves up upside 42k, which it...
From what I can read on the shorter term and longer term, I expect a retracement upward to 1.24-1.25 before then making a move down to 1.20. And on the even longer term considering how strong the supply has been for so long, as mentioned in many of my shared ideas since December, I see it going to 1.15... 1.13-1.14 if you are more interested on the whys and hows...
I would consider a retracement down to 36k, especially if we see a break under 40k closing on a SOW
if it breaks upside 42k I will target 48k as next area, still ready for a movement down when going to 42k as well
looking for it go back to 1.21 at the lps zone and the go up leaving the accumulation
I still expect a retracement to the 48k area before pursuing it's move downward and a break upside the 40k41k zone on a SOS would give me signs that 48k is in fact a zone to considerate. But looking at how it weakened demand in the past, and that even when price would reach 42k some demand absorption happened a month ago touching it, I would look for a signs of...
On the daily; on the day of the 9th June printed on heavy demand moving the price to the 37 500k area. Then the day after it closing upside area even tho volume showing some presence on the buyer side. And it failed breaking upside of it again on the 11th. so basically if there is a break under 35k which I expect for now, I would aim at the 32k zone. But if...
gonna share more about it in a few moment.
But could expect more touch of the 34k area before
If breaks upside 1915, which is what. I be reading right now considering how price reacted at the retracement to the 1868 area after it made a HH the last weeks. The take profit targeted are that i would consider would be 1960.
Daily; absorption at the touch of 35k area after closing yesterday on a bullish engulfing candle. Which give me confirmation more that it is going to 40k from what i am ready right now about the volume vs. Price
support showed absorption of supply for week and weakening of it
The absorption of demand at the touch of 40k was a good sign
gonna post about it more detailed in a few moment
considering how it did hold upside 89.5 and rejected the area, and how the zone reacted as a supply weakening zone in the past, I expect a retracement to the 91.2-91.5 zone UNLESS it would break under 89.5 and a break upside 90.6 would give me more signs that we can consider 91.2-91.5 as a next target
On the monthly we can see that price closed on a bearish engulfing on heavy supply last month, and that the candle forming right now on the monthly show signs of absorption and decreasing of demand when it approaches the 40k area. Which both tell me that it will test more the 32k area before maybe retracing up to the 48k area, that i would ONLY consider if there's...