WE MAY SEE BULLISH CONTINUATION UP TO $2,430-$2,440
Updated
Dear Traders,
Just learn to be patient... There is a need for one more validation to confirm Bullish Continuation. Remember this analysis is only valid for 30 minutes Time Frame. I have shared 4-HR time frame earlier.
After a downtrend, you need a CHoCH and a BOS, which is a closure above the previous high, and for the new high that formed after the BOS to be valid, there must be a Valid Pullback which is signalled by three consecutive bearish candle closing below each other in an uptrend. This is very important for the next break of structure to happen. You must understand this very well if you want to remain profitable in this market and above all.... You must be VERY PATIENT to wait for all confirmation to happen before taken an entry. Let market do its thing first.
However, watch out for possible M-Pattern if yesterday's high gets taken out. That 30 mins imbalance looks too huge not to be fully closed before possible new high. If you look very closely, you would see a tiny Bullish Order Block below the imbalance. You must pay attention to all these little things before you make aggressive moves.
Trade safely and apply proper risk management.
Just learn to be patient... There is a need for one more validation to confirm Bullish Continuation. Remember this analysis is only valid for 30 minutes Time Frame. I have shared 4-HR time frame earlier.
After a downtrend, you need a CHoCH and a BOS, which is a closure above the previous high, and for the new high that formed after the BOS to be valid, there must be a Valid Pullback which is signalled by three consecutive bearish candle closing below each other in an uptrend. This is very important for the next break of structure to happen. You must understand this very well if you want to remain profitable in this market and above all.... You must be VERY PATIENT to wait for all confirmation to happen before taken an entry. Let market do its thing first.
However, watch out for possible M-Pattern if yesterday's high gets taken out. That 30 mins imbalance looks too huge not to be fully closed before possible new high. If you look very closely, you would see a tiny Bullish Order Block below the imbalance. You must pay attention to all these little things before you make aggressive moves.
Trade safely and apply proper risk management.
Note
This is simply why we wait, especially on a high impact news day. You can now go to lower time frame to catch up with CHoCH. Make sure your confirmations are complete before you jump in.
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