Hard Market to break ..... we might see some moves later today in the afternoon or Possibly start afresh next week.
OveTrend Formation is a minor fall ( DOWNTREND) The trend started back then on 23rd April which was on wednesday and ever since we've been experiencing a stagnant / consolidating market.
A support zone was activated on the same Wednesday 23rd at $3286 and the Consolidation Plays within the Resistance Level at $3373 and support Level at $3260 - WHICH is slightly lower than the previous Support Level.
In order to confirm our entries we should look at 3 key levels for entrance if the market breaks support level $3286 and then breaks the second support level at $3260 then we will see the waterfall continuation but if the market breaks the Resistance Level $3373 then we are going further up.
Meanwhile for those who can catch the consolidation play well proceed but ensure your alerts are active enough to ensure nothing goes beyond targets.
There is a DOUBLE TOP formation seen in 30 /45 and 1 HR TF, which makes the probability of a fall very high. However you need to as well consider the Current market price so there is a high chance that the market might rectify and then extend further up. The only way to identify your entries is by looking at those KEY LEVELS before making your entries.
Will be back with Updates later as the MARKET UNFOLDS!!!
OveTrend Formation is a minor fall ( DOWNTREND) The trend started back then on 23rd April which was on wednesday and ever since we've been experiencing a stagnant / consolidating market.
A support zone was activated on the same Wednesday 23rd at $3286 and the Consolidation Plays within the Resistance Level at $3373 and support Level at $3260 - WHICH is slightly lower than the previous Support Level.
In order to confirm our entries we should look at 3 key levels for entrance if the market breaks support level $3286 and then breaks the second support level at $3260 then we will see the waterfall continuation but if the market breaks the Resistance Level $3373 then we are going further up.
Meanwhile for those who can catch the consolidation play well proceed but ensure your alerts are active enough to ensure nothing goes beyond targets.
There is a DOUBLE TOP formation seen in 30 /45 and 1 HR TF, which makes the probability of a fall very high. However you need to as well consider the Current market price so there is a high chance that the market might rectify and then extend further up. The only way to identify your entries is by looking at those KEY LEVELS before making your entries.
Will be back with Updates later as the MARKET UNFOLDS!!!
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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.