I don't like last 4 bars, the volume and result show us the weakness. Shadows or wicks tell us about the presence of supply.
Probably, we are going to test the resistance level first. By looking at the demand volume, I have some doubts that we can overcome the level. That's why, most likely, we might have a correction phase.
I consider current trading range as an accumulation, since we already have a possible phase C with a Spring event and, even more, we've done a commit above the resistance.
Now we can expect a test of demand near the previous resistance level, which has become a support level. If we'd do it, so we can expect a further up movement.
Let's wait for the next three candles.
Bears have put a lot of efforts last week, but what's the result? -0,38%? Poor quality volume tells us about the inactivity of CO at the moment, so 'weak hands' have the opportunity to push the price.
If we switch time frame to m15, we can see small trading range that can be an accumulation or redistribution as well. So, let's just wait for a phase C.
Can we go...
It's a bit early to declare that, but I see some kind of weakness in buyers behavior. If you compare this chart with Gold, you'll see the same inability overcome the previous High(875clp in our case).
I'll wait for a confirmation, we have to come back to the blue trading range.
The channel marked with green color also could be helpful, so we can be in a phase...
At this moment it looks like Accumulation model. The Spring event, of course, is minor sign of weakness, but we have already had a confirmation from buyers. I meant higher lows, higher spread, higher volume.
So, let's wait for a small(I hope) correction and open a buy orders.
Two trading ranges. Both could be an accumulation patterns.
Well, Phase C can be either in an UpThrust or LPS actions.
We just need to be patience and see how this trading range develops.
This one also looks bullish, it has a Spring action + test. So we can expect a bullish impulse to complete the pattern.
So far we don't have any signs of...
I started to analyze this chart recently, by drawing trading range 1-1 and here is how it develops.
TR 1-1. Looks like a continuation of bullish trend, but there some signs of weakness, like m.SOW and inability to go higher 131+.
TR 2-2. Well this trading range also shows some weakness generated by FOMC statement and recent Up Thrust action. I expect to see a...
In my point of view, we are in a redistribution trading range. But I need to see some kind of confirmation, like major sign of weakness.
Probably we'll have some reaction at local POC level, so let's wait for the European session.
Have a great trading week.
I still watching the development of this trading range. After the phase A we've seen a minor sign of weakness, but after that the continuation of the rally. I didn't buy because I see some bull's weakness and today we have a confirmation.
Next week I expect to see a new test of the support level. And if we can even go lower, I will sell more after the test.
I have been waiting for a price reversal like all of us, but there are still some problems with that.
All attempts to buy - absorbed.
The buyers activity with high volume brings 0 result.
Daily chart - last Friday was epic fail for buyers.
I think we're going to make a new lower low.
At the current price structure I've selected three trading ranges.
There are 1-1, 2-2, 3-3.
This price channel is in a Phase B now, and the bias isn't clear for me at the moment. I suppose this is Distribution pattern, but we still have to see some kind confirmation, like a Phase C. I expect that this TR will unfold this week, we could see SOW or Spring...
Well, right now, I'm not sure that this is an re accumulation trading range. The UT action for now, doesn't tell us a lot. But the volume and Change of Character show us more details.
ChoCh to reserve the trend? Maybe yes, maybe no. But, it's a good time to understand where could we go next week and further.
I will wait for the end of the Monday to see who...
Over the past 8 hours, buyers have failed to break above the previous high, indicating a lack of buying interest from Institutional participants.
Therefore, I expect the development of sells, a test of a resistance zone and again the continuation of sales.
According to the cyclical analysis the next week will be:
The rest of the days:...
The current trading I'm considering like accumulation pattern. The main reason is Spring type event in a Phase C, and then we had a successful test.
Also, take a look at the bar number (1), you can see the absorption of supply - this is an another great signal that the CO maybe would like to test the resistance level, I mean @1965 & @1980
But, to make this...