Huge demand on the way up and very little interest to sell at the current highs. A bullish flag has been formed and in my opinion would be a great place to put a bet on taking also in consideration a support zone as confluence too and then add to the position once breakout occurs at the top. In Brazil since September the consumer is already feeling the prices in...
Buyers could be stepping in at this level and resume the uptrend. This could be a premature entry at the moment this is posted, or you could wait for a better candle pattern to form and then pull the trigger.
We could see a massive sell off in the incoming weeks if the H&S patterns works out. If goes at the text book says the target on this could be at 0.65.
Bear flag forming at the edge of the channel. The flag pole came down with good volume and flag itself (consolidation) on decrease volume therefore good probability of more downside. If that happens that could create a Wycoff spring and resume the current trend.
Placing a buying order on this negative candle as I believe there are a few traders starting to few pain now, hoping to get out of their current position.
Long trade on 4hr retesting the channel breakout on the 4hr chart. Just be aware as the breakout has low volume therefore be quick to move to breakeven is order gets triggered.
I'm placing my order at this liquidity grab region where the buyers at some point stepped in but lost the fight. Up there could you could find trapped traders and more sellers interested to sell at that level again.
Good chance of a retest of the bull flag on the 4hr chart. Theory is, by now many traders have moved their stop losses to breakeven or trapped short traders looking for chance to get out unscathed therefore this create a huge chance for the institutions to drive the market just a little and sweep up them orders.
