With an indecisive Weekly candle printed to end the week, sellers appear to be wearing out the buyers at resistance. Trendline test also at this supply zone. (0.88358). I would be on the lookout for bearish engulfing candle printed before making any move. Happy Trading!
With the DXY hovering around significant supply zones, coupled with the cable being primed for a push up to 1.27192 and possibly beyond, we can theoretically map out a path for bulls to hold serve until the High time frame key levels. This potential push up could bring fruitful shorts in the near future. However, I’m bullish on lower time frames. Happy Trading.
On 4HR tf, we can see some exhaustion around 0.59611 as we got multiple equal lows, and price pushed up and is currently above resistance level 0.59979. Should price close the 240 candle above resistance we can start looking for long opportunities towards 0.60584.
Although sellers appear to primarily be in control at the moment, Im leaning towards a slight push up back into the zone of 153.792 or previous Equal Highs/supply zone, as it's much closer to where price currently is. Once price reaches this area, I would pay attention to specific rejection candles if any should form, then anticipate the downward push towards the...
