Analysis is Strictly for educational purposes. Use at your own risk. We will look for the bulls to come into the market at the specified area.
We have a potential area of value shown. If we get a candlestick pattern then we could enter. If you are an aggressive trader you could have already entered the trade at the area/level shown.
There are many sellers locked in and we would look for a potential entry at the areas/levels of value.
I hope this analysis helps you. I would rather be on the side that makes money from COVID.
Here we have multiple plans as price does not do what we want. It does what it wants. Hence having dual plans can be very beneficial to achieving a trade opportunity.
The area indicated is a great area of value for Buys. Let us see if price can come into the area.
There would be a better buy opportunity as indicated on the analysis. Remember we should always avoid buying/selling at just about any levels/areas. Always have a trading/investing plan.
Once price reaches the area of value we could expect sellers to drop the price lower. W e could also look for a breakout trade above the even handle 60.00 level should sellers not step in.
We are at an area of value. We now can look for an entry setup composed of candlestick patterns for conservative traders. If you already entered aggressively then that is also a plan.
I am looking for a potential setup as shown for buys opportunities. This is my opinion and I am not giving any advice. Trade at your own risk.
I wanted to add more clarity to my previous analysis. I drew the structure that I would like to see formed for an entry to occur.
This is based on my own idea and is not financial advice. Use for your demo accounts only if you wish to use it. with the area indicated I feel that would be a better risk to reward if the long setup is formed. With a formation of head and shoulders pattern or simply a set of higher highs and lower lows leaving that area would be my trigger for entry.
It seems the bears are in. So this would be the setup to look at.