Price action wants to stay in range
Updated
The price action tells us "I want to stay flat and am in a tight range.
But the trend shows upward, without question. The variation is so small that the statistical trend indicator ( linear regression) points upwards and bends even more upwards every hour.
Because there is almost no variance, it bends upwards even when the price is below the regression line. This is unusual and predicst strong impulses (trying to move somewhere, the way we can see it on my chart).
Next chart (i will add as comment, illustrating the linear regression channels that shows you what I'm talking about, in different timeframes, all showing upward momentum).
I know people get confused by too many indicators/lines on chart that is why I did not include it/them on the main chart.
But the trend shows upward, without question. The variation is so small that the statistical trend indicator ( linear regression) points upwards and bends even more upwards every hour.
Because there is almost no variance, it bends upwards even when the price is below the regression line. This is unusual and predicst strong impulses (trying to move somewhere, the way we can see it on my chart).
Next chart (i will add as comment, illustrating the linear regression channels that shows you what I'm talking about, in different timeframes, all showing upward momentum).
I know people get confused by too many indicators/lines on chart that is why I did not include it/them on the main chart.
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Note
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