Last day the price broke the purple support zone
But pullback has not reached this area
Therefore, the divergence of recent lows is also observed in the rsi indicator
If the yellow downward trend line is broken in the rsi indicator and at the same time; If the price can break the red zone, we can expect the price to rise to the purple zone
In higher times, an ascending channel can be seen
And it is easy to see the power of bullish candles compared to bearish candles
We have the demand area around the price of $19.3 to $18.7
when the price reaches this area and hits the bottom of the ascending channel and the third hits the bottom of the falling wedge pattern; You can expect the price to rise
The...
Considering the demand area around the price of $18.03 and reaching the upward trend line of the four-hour time frame, as well as reaching the broken supply area, which now plays the role of support, I expect the price to rise and it is a good opportunity to enter a long position.
We have a strong supply zone around $14.1 to $14.75.
Considering the weakening of the upward trend of this currency and macroeconomic data such as the determination of the interest rate by the Federal Reserve in the remaining hours of the day, I expect the price to rise to around $14.3 and then drop to around $12.5
If the four-hour candle closes below the red trend line with a low shadow, we can expect the price to fall to around $21,500.
Also, in this case, I expect the approximate movement of the price to be like this bars pattern
en:
This chart gives us the scenario of price decline in weekly and daily time frames.
It has also reached the daily timeframe resistance zone and touched the ceiling of the ascending daily timeframe channel.
There are two scenarios for the price drop in the chart.
I prefer the price to penetrate the area first and then see the price decline.
pe:
to time frame...
there are two short trade positions for this chart
but for time of entering the position , the conditions must be checked
it is preferable to use internal trend lines to enter the position
