Here is why:
All the timeframes (3M, M,W and D) are showing very bullish signs after the recent downfall we have seen in price due to political factors. However, there is no clear targets in those timeframes as of now.
However, there is a distinct target on the 4H timeframe.
The target is at 42,980.
The reason is we saw price collecting a lot of orders at 41,500 and the next major liquidity point is at 42,980.
So basically, all price is doing is collecting orders in order to reach that target.
We know this to be true because we have seen bullish indications in the way price has been collecting orders between the consolidation region of 42,660 and 42,500.
Yesterday, price broke above that region, however, orders that were made at the time were not enough for price to reach the target of 42,980.
Price went all the way to 42,300 to collect more orders in order to go and hit the 42,980 liquidity region.
Currently, I am waiting for price to form any sort of bullish confirmation for me to buy.
The best signs for that is for price to retrace to 42,500, where I will look to buy to the next liquidity region at 42,650.
All the timeframes (3M, M,W and D) are showing very bullish signs after the recent downfall we have seen in price due to political factors. However, there is no clear targets in those timeframes as of now.
However, there is a distinct target on the 4H timeframe.
The target is at 42,980.
The reason is we saw price collecting a lot of orders at 41,500 and the next major liquidity point is at 42,980.
So basically, all price is doing is collecting orders in order to reach that target.
We know this to be true because we have seen bullish indications in the way price has been collecting orders between the consolidation region of 42,660 and 42,500.
Yesterday, price broke above that region, however, orders that were made at the time were not enough for price to reach the target of 42,980.
Price went all the way to 42,300 to collect more orders in order to go and hit the 42,980 liquidity region.
Currently, I am waiting for price to form any sort of bullish confirmation for me to buy.
The best signs for that is for price to retrace to 42,500, where I will look to buy to the next liquidity region at 42,650.
Trade active
Long taken after price has taken a lot of orders at 42350 and rejected the region with a lot of buy orders.Target at 42980
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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.