retracemenT
WEEKLY OVERVIEW :
price on the weekly chart is in a bullish trend , trading above bullish trendline connecting from low @ 11.50520 to higher low @ 13.68600 , despite being in an uptrend price is showing signs of increasing downside momentum as it is trading in a short-term descending parallel channel.
moving down to....
DAILY OUTLOOK :
price is sitting on a S/R level currently acting as support @ 14.48710 and is reacting to the bottom trendline of the bearish parallel channel also giving support to price. Daily demand valley of proximal price @ 14.51080 is in control , indicating a possible shift in short-term momentum from bearish to bullish making a retracement.
OVERALL BIAS :
given that price is is a daily S/R level and reacting to the bottom of bearish trendline indicating possible short-term upside momentum to liquidity pool ranging from @ 14.98022 which is also the proximal price for prev. daily valley to @ 14.83066. overall bias ; TO THE UPSIDE
EXTRA CONFLUENCE :
price is reacting to 4hr intraday demand @ 14.51042 where i have long positions to daily liquidity pool and stops 884 points below entry price giving 1:3 risk , reward to target
''man I keep telling people I am on a different level... screw social media fame , come to my hood if you trying to see the kind of trades I'm taking from here on out'' - currencynerd,pakophutietsile
price on the weekly chart is in a bullish trend , trading above bullish trendline connecting from low @ 11.50520 to higher low @ 13.68600 , despite being in an uptrend price is showing signs of increasing downside momentum as it is trading in a short-term descending parallel channel.
moving down to....
DAILY OUTLOOK :
price is sitting on a S/R level currently acting as support @ 14.48710 and is reacting to the bottom trendline of the bearish parallel channel also giving support to price. Daily demand valley of proximal price @ 14.51080 is in control , indicating a possible shift in short-term momentum from bearish to bullish making a retracement.
OVERALL BIAS :
given that price is is a daily S/R level and reacting to the bottom of bearish trendline indicating possible short-term upside momentum to liquidity pool ranging from @ 14.98022 which is also the proximal price for prev. daily valley to @ 14.83066. overall bias ; TO THE UPSIDE
EXTRA CONFLUENCE :
price is reacting to 4hr intraday demand @ 14.51042 where i have long positions to daily liquidity pool and stops 884 points below entry price giving 1:3 risk , reward to target
''man I keep telling people I am on a different level... screw social media fame , come to my hood if you trying to see the kind of trades I'm taking from here on out'' - currencynerd,pakophutietsile
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