MY OWN LONG TERM VIEW FOR THE KING
FIRST lets dive to the volume profile analysis
the last bullish wave has strong HVN & poc not tested , NOTE ( it doesn't have to be tested every time )
but the king looks like looking for strong base to taking off again
also i have to mention that price just touch the V A for the bullish wave thats why we expect rejection and bullish wave
but i don't think its will be strong enough
SECOND we have the bearish wave still has bearish momentum i sew the pos fallen step by step
so what we need its consolidation and build the base to move the poc below the price
THIRD we keep in eye the shark pattern on the weekly chart we just need the D confirmation then will got a nice reverser
pattern
the last bullish wave has strong HVN & poc not tested , NOTE ( it doesn't have to be tested every time )
but the king looks like looking for strong base to taking off again
also i have to mention that price just touch the V A for the bullish wave thats why we expect rejection and bullish wave
but i don't think its will be strong enough
SECOND we have the bearish wave still has bearish momentum i sew the pos fallen step by step
so what we need its consolidation and build the base to move the poc below the price
THIRD we keep in eye the shark pattern on the weekly chart we just need the D confirmation then will got a nice reverser
pattern
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