By choosing a 4hr time frame , I notice a downtrend as on the chart with candle closing at the value of ( C 42140.0) on 21st/APR/2022 at 1500hrs (utc+3 Riyadh). This trend is reversed as explained below;
* The price range percentages indicated from the support level (purple colored rectangle)express the price movement of the higher
lows down the trend.
* Lowest recorded percentage (5.76%) higher low at the end of the downtrend ,candlestick closing at the value of ( C 38696.0) ,wick
value (H 39255.5); setting for us a new RESISTANCE (horizontal yellow line).
*A breakeven above our resistance at 1900hrs (UTC +3 Riyadh) on 4th/APR/2022 is our evident downward reversal candlestick at the
value of ( C 39840), wick value (H 40058.5).
OPEN TRADE AT : MARKET PRICE 39300.0 TP 39400 SP 37504.5
SPECIAL APPRECIATION: AlexTrading laurensandy @tttacademy ( OUR MAGICIAN'S HOUSE) ~still learning
* The price range percentages indicated from the support level (purple colored rectangle)express the price movement of the higher
lows down the trend.
* Lowest recorded percentage (5.76%) higher low at the end of the downtrend ,candlestick closing at the value of ( C 38696.0) ,wick
value (H 39255.5); setting for us a new RESISTANCE (horizontal yellow line).
*A breakeven above our resistance at 1900hrs (UTC +3 Riyadh) on 4th/APR/2022 is our evident downward reversal candlestick at the
value of ( C 39840), wick value (H 40058.5).
OPEN TRADE AT : MARKET PRICE 39300.0 TP 39400 SP 37504.5
SPECIAL APPRECIATION: AlexTrading laurensandy @tttacademy ( OUR MAGICIAN'S HOUSE) ~still learning
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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.