kekius maximus
where the price has touched the last support level on the H1 timeframe. You also mentioned that there is a possibility the price could move sideways for an extended period.
In this analysis, several key points you've highlighted are:
Support on the H1 Timeframe: This indicates that the price has reached a level that frequently acts as a reversal or support point. It suggests that the price might not fall below this support level in the short term.
Price Momentum: You mentioned that price momentum is still ongoing, which may indicate that the price is either continuing in a trend or undergoing a correction phase.
Potential Sideways Movement: This indicates that the price could move within a narrow range without a clear direction, often happening when there is market uncertainty or a lack of strong momentum in either direction.
Small Entry Size: Entering with a smaller position size is recommended to mitigate risk in case of unexpected market movements. This is a wise approach, especially in markets that might remain sideways over a longer period.
In this analysis, several key points you've highlighted are:
Support on the H1 Timeframe: This indicates that the price has reached a level that frequently acts as a reversal or support point. It suggests that the price might not fall below this support level in the short term.
Price Momentum: You mentioned that price momentum is still ongoing, which may indicate that the price is either continuing in a trend or undergoing a correction phase.
Potential Sideways Movement: This indicates that the price could move within a narrow range without a clear direction, often happening when there is market uncertainty or a lack of strong momentum in either direction.
Small Entry Size: Entering with a smaller position size is recommended to mitigate risk in case of unexpected market movements. This is a wise approach, especially in markets that might remain sideways over a longer period.
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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.
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.