Yesterday I said that Candle close above $6500 would confirm bullish price action! - and the 7th attempt was successful to break this level in the 1h chart! After the breakout whales push the price back down to $6320 level to sort out tight stop traders and then price quickly pops up our mentioned resistance which was $6650. At the moment we could see on the chart that HH & HL formations are clean and the price moves nicely on the upwards channel! Before we go and climb up to the next resistance level ($6900-$7000) we could 'want' to retest the round number $6500 and definitely have to fight through from $6670!
But, IF the price breaks through the support level $6500 then we might go and retest $6100-$6300.
I thinking that bulls are on the market at the moment and ready to climb a little bit more, so let's see what the market offers to us!
To be continued....
Leave a comment and hit the LIKE button if You agree with me!!
But, IF the price breaks through the support level $6500 then we might go and retest $6100-$6300.
I thinking that bulls are on the market at the moment and ready to climb a little bit more, so let's see what the market offers to us!
To be continued....
Leave a comment and hit the LIKE button if You agree with me!!
Note
EDUCATION LESSON:To avoid the trendline drawing mistakes - If you start drawing the trendline from your starting point A and up to your ending point B have to be the same style. If you start drawing your trendline from a wick then it has to be ending on the wick, not in the body like an example on the image below. Also if you start drawing from the body then this has to end on the body.
Note
...and we are still in this small channel down...this is not the bull flag anymore. If it is then its a very-very long flag :D🔍I do the technicals - so You don’t have to.
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👉vaidoveek.substack.com/ - EST
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📊Follow my research on Substack:
👉vaido.substack.com/ - ENG
👉vaidoveek.substack.com/ - EST
🚀 Actionable market analysis, ideas, and education
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔍I do the technicals - so You don’t have to.
📊Follow my research on Substack:
👉vaido.substack.com/ - ENG
👉vaidoveek.substack.com/ - EST
🚀 Actionable market analysis, ideas, and education
📊Follow my research on Substack:
👉vaido.substack.com/ - ENG
👉vaidoveek.substack.com/ - EST
🚀 Actionable market analysis, ideas, and education
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.