Price stuck at resistance become support, break resistance and retrace. Might go higher
Breakout, Pullback to trend line and continue making Lower Low
- MA might do a fake death cross so wait until it fully forms. - If bullish CS break the bearish engulf zone (orange) go LONG - If MA continues to form death cross go SHORT, If it form golden cross go LONG - Price in demand zone Final Decision - Chances is higher for long,
Monthly TF - Shows that price is in a downtrend, we can see that the price break out of the wedge going further downwards and retraced a couple of times at the (i) trend line. And finally it broke out of the bullish channel (trend line ii). - MA did a fake reversal in the wedge and followed up with a death cross indicating that it will go even lower. - Fibonacchi...
Bullish trend line has been broken. CS (candlestick) has retraced to the trendline and rejected the marked zone. Previously candlestick has rejected the price close to 38.2% and continue going downwards then retraced to 78.6% and rejected it. It might continue going below the 100% fibo price. Also bearish divergence can be seen on D1 and H4 (much clearer). At TF...
Bigger trendline already been broken. Price rejected the first zone marked. D1 TF MA20 and MA50 close to crossing down and divergence found. If current cs form under the trendline it might go down even further towards marked areas (2nd and 3rd). Please leave a feedback so I can improves on my analysis. I'm quite new to forex so please bear with me :D
Might reject at 111.447 or 112.646 then pullback to 108.854 and continue its way upwards. At TF W1 MA 20 and 50 close to crossing each other fully. There's also divergence found at D1 and W1 TF. Please leave a feedback so I can improves on my analysis. I'm quite new to forex so please bear with my :D