Here's why;
Price has not reached the monthly target of 36700.
With that in mind I am aware that all price is doing is collecting orders before moving up.
The weekly had such a strong bullish close. This indicates that price is only going to go up from then on.
Price closed above the daily region of 36067 and retested it twice.
On the 4 hour timeframe, there is a rush in bullish momentum from the daily region and hence price is only going to go upwards.
All price is doing right now, is collecting orders that will break the 36220 resistance area.
The highest probability entry is at 36095
I am open to any new entry if the market patterns change.
Price has not reached the monthly target of 36700.
With that in mind I am aware that all price is doing is collecting orders before moving up.
The weekly had such a strong bullish close. This indicates that price is only going to go up from then on.
Price closed above the daily region of 36067 and retested it twice.
On the 4 hour timeframe, there is a rush in bullish momentum from the daily region and hence price is only going to go upwards.
All price is doing right now, is collecting orders that will break the 36220 resistance area.
The highest probability entry is at 36095
I am open to any new entry if the market patterns change.
Trade active
Price formed a shoulder at 36165 with a double bottom formation.It also retraced to the 38.2 fib level
I have taken note of this setup so that I don't miss similar ones in the near future.
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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.