DISCLAIMER - This analysis does not warrant any immediate buy and sell. Every trader should do their analysis themselves and have proper risk management executed perfectly in accordance with their trading plan.
Guides:
Red - Resistance Trend Lines
Green - Support Trend Lines
The resistance and support trend lines are created at 4h time frame. The thick resistance trend line was created in a 1d time frame. As you can see, The price is already below 3 resistance trend lines but above 2 support trend lines, making the bears slightly in control of the market. A slight bias to the bear side.
Guides:
Red - Resistance Trend Lines
Green - Support Trend Lines
The resistance and support trend lines are created at 4h time frame. The thick resistance trend line was created in a 1d time frame. As you can see, The price is already below 3 resistance trend lines but above 2 support trend lines, making the bears slightly in control of the market. A slight bias to the bear side.
Note
Price attempted to pullback at the major resistance trend line but wasn't able to hold. It had already broken the two support trend lines, giving it a higher probability for the price to go down.
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.