Weekly: No real downtrend on weekly chart.
Red candle 2 weeks prior was just a correction.
Daily: breakout of the "accumulation zone" on strong volume.
12h: breakout at 4460 supported by volume and rejection with long wick at 4620 level
6h: forming anomaly with high volume and long wick - 1h to close
4h: anomaly - high volume small body, indicating reversal from 4620; RSI at 70 level
2h: anomaly - same as above, RSI starting to go down
1h: rejection on huge volume; MACD hoovering
30m: looks like retest of 4620 level, high volume on stopping candle indicating buyer support
1D to 30m - POC below current price
15m - POC at the level of 4620 support, double top on RSI
15-5m - stopping volume around support level, wait for the price strength to go up and LONG
BUY at recent 4h local support at 4540 TP 4740 SL 4440
Red candle 2 weeks prior was just a correction.
Daily: breakout of the "accumulation zone" on strong volume.
12h: breakout at 4460 supported by volume and rejection with long wick at 4620 level
6h: forming anomaly with high volume and long wick - 1h to close
4h: anomaly - high volume small body, indicating reversal from 4620; RSI at 70 level
2h: anomaly - same as above, RSI starting to go down
1h: rejection on huge volume; MACD hoovering
30m: looks like retest of 4620 level, high volume on stopping candle indicating buyer support
1D to 30m - POC below current price
15m - POC at the level of 4620 support, double top on RSI
15-5m - stopping volume around support level, wait for the price strength to go up and LONG
BUY at recent 4h local support at 4540 TP 4740 SL 4440
Trade closed: target reached
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.
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.