Context:
the current reaction @54500 initiated an upgrind thru a supplyline with a series of higher lows and highs , however
its not a strong upmove per se , any rejection of @56300 followed by a break of demandline should be considered
weak, OTOH such tight grinds especially after a selloff are filled with price and any breakout to the upside will be accompanied on high momentum ,
signs of strenght:
uptrend
rejection of 50% retracement
broken supplyline
signs of weakness:
broken demadnline
increased momentum to the downside
the current reaction @54500 initiated an upgrind thru a supplyline with a series of higher lows and highs , however
its not a strong upmove per se , any rejection of @56300 followed by a break of demandline should be considered
weak, OTOH such tight grinds especially after a selloff are filled with price and any breakout to the upside will be accompanied on high momentum ,
signs of strenght:
uptrend
rejection of 50% retracement
broken supplyline
signs of weakness:
broken demadnline
increased momentum to the downside
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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.