Highlighted Previous Week's Highs and Lows:
I've marked the highest and lowest points of the previous week on the chart with horizontal lines labeled as "WEEKLY HIGH" and "WEEKLY LOW."
Weekly Confirmation:
The chart indicates that there has been a weekly confirmation, suggesting a continuation of the current trend.
Potential Reversal Zone:
If the price retraces back to the "WEEKLY HIGH," there is a possibility of a reversal. This area is a critical level where traders might watch for potential market changes.
This setup provides insights into significant price levels and potential reversal points, highlighting the importance of the weekly high in current trading decisions.
I've marked the highest and lowest points of the previous week on the chart with horizontal lines labeled as "WEEKLY HIGH" and "WEEKLY LOW."
Weekly Confirmation:
The chart indicates that there has been a weekly confirmation, suggesting a continuation of the current trend.
Potential Reversal Zone:
If the price retraces back to the "WEEKLY HIGH," there is a possibility of a reversal. This area is a critical level where traders might watch for potential market changes.
This setup provides insights into significant price levels and potential reversal points, highlighting the importance of the weekly high in current trading decisions.
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