Weekly: 4th Weekly bullish close in a row. happens to also be the result of a bounce on a weekly channel. Last weekly impulse leg shows a possible 1.27 extention that lines up right on the 1.3650 key level
Daily: Daily bearish retracement channel is present. price is trying to break this channel to the upside for the 3rd time. we had a bounce then a bullish hammer and tweazer top form right on the top of the channel boundary. expecting a break then a retest for me to take this long. to at least the TL.
H4: Smaller bullish channel being followed. would think the week beginning would have a bearish close out of this channel to fake out the sellers then take price for another leg up.
Daily: Daily bearish retracement channel is present. price is trying to break this channel to the upside for the 3rd time. we had a bounce then a bullish hammer and tweazer top form right on the top of the channel boundary. expecting a break then a retest for me to take this long. to at least the TL.
H4: Smaller bullish channel being followed. would think the week beginning would have a bearish close out of this channel to fake out the sellers then take price for another leg up.
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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.