It's weekend and we are all looking forward to what might happen next week.
Here's what I can deduce from the chart.
Break of external market structure higher high, price proceeds to 50k region and reacts to the OB therefore causing a sudden drop in price.
I have marked out a (not really outstanding/obvious) higher low on the chart, that price broke through aggressively, went to the 42k region and rejected: price is currently around the structure it broke.
Here's what I think:
- Weekly close above the HL broken might result to a bullish continuation.
- A close below the 45250 region might send price to an obvious support on the daily or even as low as the external MS.HH region for a retest.
Here's what I can deduce from the chart.
Break of external market structure higher high, price proceeds to 50k region and reacts to the OB therefore causing a sudden drop in price.
I have marked out a (not really outstanding/obvious) higher low on the chart, that price broke through aggressively, went to the 42k region and rejected: price is currently around the structure it broke.
Here's what I think:
- Weekly close above the HL broken might result to a bullish continuation.
- A close below the 45250 region might send price to an obvious support on the daily or even as low as the external MS.HH region for a retest.
Note
In addition, these are marking on my chart on the daily. Price didn't get to OB o the daily but it respected the FVG we didn't see on the weekly. I have also marked out my support regions. You could adjust them to fit them on your charts.
I am human and I can be wrong. Therefore, anything I have said is not financial advice. Use at your own risk.
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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.