ADX could potentially be entering in a buy zone for a breakout. As we can see in the main chart, it has broken cloud resistance, wicked down to test support and is now trying to stabalize above the 1hr cloud. The 0.786 is posing as resistance however. I would be watching the 4hr to see if it can break the cloud since it seems likely to be gearing up for it, considering high timeframe stochrsi is on the floor and oversold and crossing.
4hr
1d
I think volume can exit this and after a reset of the 4hr, make people just panic a bit and question the entry, and then it will inject and be the fuel. Either way it would be bad buying here for the first time and average down if it happens since the C could finish a bit deeper, and unless the fundamentals completely fall apart.
If fundamentals are released and enforced though and news comes out soon, it can definetly ignite such quick next cycle in this. If not then this incoming volume will be used as an exit and for the bleed to continue after a 4hr cloud denial possibly until we retrace to 0.883 or lower.
4hr
1d
I think volume can exit this and after a reset of the 4hr, make people just panic a bit and question the entry, and then it will inject and be the fuel. Either way it would be bad buying here for the first time and average down if it happens since the C could finish a bit deeper, and unless the fundamentals completely fall apart.
If fundamentals are released and enforced though and news comes out soon, it can definetly ignite such quick next cycle in this. If not then this incoming volume will be used as an exit and for the bleed to continue after a 4hr cloud denial possibly until we retrace to 0.883 or lower.
Note
Nailed it perfectly. EnjoyNote
ADX penanting, a break away could lead us into the 27k zone.Note
Pennant broke down however move is holding a bullish 0.618 retrace as seen here Buy zone would be bottom of the cloud, stop loss would be under the 0.786 and look to rebuy lower when market decides what it wants to do.
Note
Buy zone was good until BTC rally caused traders to panic sell. Volume came right back in however, new buy zone would be this Note
Perfect fills 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.