H4 : Unsuccessful attempt to :
1) Breakout the ongoing downtrend channel on the upside
2) Breakout the clouds and hold above it
triggered a renewal selling pressure.
Indicators are turning down
First support is @ 54'250 (former congestion support zone in this time frame), which
is slightly above a more important support level, which is the Mid Bollinger Band @ 54'088
Below, watch :
S1 : 52'872
S2 : 50'631 (bottom of the clouds)
A successful sustainable upside breakout would put the focus on :
R1 . 56'500 (former high)
R2 : 60'000 /61'066
CONCLUSION :
Watch carefully ongoing price action on shorter time frames (H1 and M15) to be able to detect
early signal (s9, as divergences, which will allow you to adapt quickly your trading plan in acting
accordingly.
Have a nice trading day
All the best and take care
Ironman8848
1) Breakout the ongoing downtrend channel on the upside
2) Breakout the clouds and hold above it
triggered a renewal selling pressure.
Indicators are turning down
First support is @ 54'250 (former congestion support zone in this time frame), which
is slightly above a more important support level, which is the Mid Bollinger Band @ 54'088
Below, watch :
S1 : 52'872
S2 : 50'631 (bottom of the clouds)
A successful sustainable upside breakout would put the focus on :
R1 . 56'500 (former high)
R2 : 60'000 /61'066
CONCLUSION :
Watch carefully ongoing price action on shorter time frames (H1 and M15) to be able to detect
early signal (s9, as divergences, which will allow you to adapt quickly your trading plan in acting
accordingly.
Have a nice trading day
All the best and take care
Ironman8848
Comment:
First target (S1) @ 52872 filled !
