Possible turn to bullish not fully confirmed
Well guys we are seeing another buy pattern with signal on time frames from 5 to daily.
QUESTION
ARE WE LOOKING AT A BUY HERE.
some where between 22:00 and 22:30 6 june 2021 south african time the buy signal appeared on lower time frames.
We see a piercing line on the 15min
A bullish ingulfing on the 30 min
A piercing line on the 1h
A bullish ingulfing on the 4h
More a the rally on the daily could be viewed as a bullish ingulfing if the spinning top was a doji
The daily also shows signs of compression on the Bollinger bands
This is Usaully a breakout sign
From 5 to 1h
We are at the top of the Bollinger indicating a possible reversal.
With the rsi being at 54 and the adx still bearish but turning
4h time frame is at the middle band and the daily.
This indicate that we could see a drop to even lower levels
Once the market touch the middle band on the daily.
But the issue is the strong turning signals on the candle patterns indicating we could see a strong bull run happening.
If we don't see a pullback or drop at level 37000
If we break on the 1h time frame and hold the position
I would say those who are short must monitor there positions
We also have a 4wave count on the 1h time frame that must complete.
QUESTION
ARE WE LOOKING AT A BUY HERE.
some where between 22:00 and 22:30 6 june 2021 south african time the buy signal appeared on lower time frames.
We see a piercing line on the 15min
A bullish ingulfing on the 30 min
A piercing line on the 1h
A bullish ingulfing on the 4h
More a the rally on the daily could be viewed as a bullish ingulfing if the spinning top was a doji
The daily also shows signs of compression on the Bollinger bands
This is Usaully a breakout sign
From 5 to 1h
We are at the top of the Bollinger indicating a possible reversal.
With the rsi being at 54 and the adx still bearish but turning
4h time frame is at the middle band and the daily.
This indicate that we could see a drop to even lower levels
Once the market touch the middle band on the daily.
But the issue is the strong turning signals on the candle patterns indicating we could see a strong bull run happening.
If we don't see a pullback or drop at level 37000
If we break on the 1h time frame and hold the position
I would say those who are short must monitor there positions
We also have a 4wave count on the 1h time frame that must complete.
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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.