Long
FULL TECHNICAL ANALYSIS FOR CRYPTO PAIR MATICUSDT
Hello my wonderful community !
I’m back again I really appreciate you guys for reviewing my charts
Kindly like and comment on how you feel the market will go , I’m open to learn and communicate with other hardworking traders on here.
The colors for each line/zone
Monthly - Yellow
Weekly - Orange
Daily - Green
4H - Red
1H - Purple
My Monthly chart view:
Ever since 2022, price has been in a downtrend by making Lower highs and Lower lows.
Price breaks a major Support area and turns it to a dynamic resisitance areas.
Take note as price is in a range and respecting the newly formed monthly resistance line (1.2300 ) and support line (0.3600) in yellow
My Weekly chart view: Going into the weekly TimeFrame, it is truly clear that bears has been in full control of price from mid 2022 until last quarter of 2024,Price is currently not making lower lows and has been ranging Last week price has reached a strong support area that has been respected for years after being in a downtrend for weeks
My Daily chart view: Price is in a downtrend after breaking the daily dynamic S/R in green (0.7400) and has approached the Monthly resistance line in yellow. Looking for buy setups as price has respected that monthly support zone for a stipulated period.
My 4H chart view: As we move into the smaller timeframe of the 4H period, the market seems to be clearer as we can see another formation of a dynamic S/R zone in red (0.4350) which i will set as my target when we go down further
My 1H chart view: So I’ll go down into a smaller 1H timeframe and look for buy Setups as bulls seems to be coming in slowing and the formation of an inverse heads and shoulders pattern
To play safe, for me to feel comfortable in capturing a buy setup ,I’m looking for the break of the neckline of the inverse heads and shoulders pattern , cross of the EMAs and volume of bulls coming into the market to put the odds in my favor.
Avoid entry of any trade during any major news that will affect price and this is not financial advise - NEWSCHOOLTRADER
I’m back again I really appreciate you guys for reviewing my charts
Kindly like and comment on how you feel the market will go , I’m open to learn and communicate with other hardworking traders on here.
The colors for each line/zone
Monthly - Yellow
Weekly - Orange
Daily - Green
4H - Red
1H - Purple
My Monthly chart view:
Ever since 2022, price has been in a downtrend by making Lower highs and Lower lows.
Price breaks a major Support area and turns it to a dynamic resisitance areas.
Take note as price is in a range and respecting the newly formed monthly resistance line (1.2300 ) and support line (0.3600) in yellow
My Weekly chart view: Going into the weekly TimeFrame, it is truly clear that bears has been in full control of price from mid 2022 until last quarter of 2024,Price is currently not making lower lows and has been ranging Last week price has reached a strong support area that has been respected for years after being in a downtrend for weeks
My Daily chart view: Price is in a downtrend after breaking the daily dynamic S/R in green (0.7400) and has approached the Monthly resistance line in yellow. Looking for buy setups as price has respected that monthly support zone for a stipulated period.
My 4H chart view: As we move into the smaller timeframe of the 4H period, the market seems to be clearer as we can see another formation of a dynamic S/R zone in red (0.4350) which i will set as my target when we go down further
My 1H chart view: So I’ll go down into a smaller 1H timeframe and look for buy Setups as bulls seems to be coming in slowing and the formation of an inverse heads and shoulders pattern
To play safe, for me to feel comfortable in capturing a buy setup ,I’m looking for the break of the neckline of the inverse heads and shoulders pattern , cross of the EMAs and volume of bulls coming into the market to put the odds in my favor.
Avoid entry of any trade during any major news that will affect price and this is not financial advise - NEWSCHOOLTRADER
Note
Still waiting for price to cross over my major point to trigger my buy entry as it's still respecting the area of support
Note that the Inverse heads and shoulders has been invalidated
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