I'm currently anticipating the 0.73055 level failing. If it does, I expect momentum to pick up.
1. Price pushes to 0.73323 highs after a very strong rally.
2. Price fails to trade above the previous high, which is a first sign that we can expect exhaustion.
3. This is where price is holding floored. If price breaks below this floor, I am expecting a major S/D imbalance and momentum to the downside.
1. Price pushes to 0.73323 highs after a very strong rally.
2. Price fails to trade above the previous high, which is a first sign that we can expect exhaustion.
3. This is where price is holding floored. If price breaks below this floor, I am expecting a major S/D imbalance and momentum to the downside.
Note
This didn't break down as cleanly, but at least it did.
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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.