"All-Time Highs" Finally! New Channel Unlocked ! what's next?
Finally, we are at "All-Time Highs" and have unlocked a New Channel. What will happen next?
Let’s just let the price follow its course. Last week, we correctly predicted the price movement by creating an "N3" and landing in the order block as support to gain upward momentum
with the recent movements the price has made, we have unlocked a new upward channel in which we will be monitoring the price movement in the coming weeks (Yellow Channel).
Here, we only need to focus on two things:
1. We can see that the last candle is an "Inside Candle." An inside bar can be bullish or bearish, depending on its context within price action. If it forms within a downtrend, it can be considered bearish, indicating a possible continuation. If it forms within an uptrend, it can be considered bullish, suggesting a possible continuation of the uptrend. (Look up this important candlestick pattern on Google.)
In this case, the last two candles were bearish, so we might consider that the market could either drop or bounce again in our order block to continue the uptrend. This is the scenario I will be expecting if we have a bearish market on Monday.
Now, if the price falls to the order block zone, notice how it will also respect the support of the yellow channel. This could mark the beginning of a bullish sequence.
2. Its Simple, the price stays within the yellow channel and follows an upward and orderly sequence.
Thank you for supporting my analysis, and be very cautious when we are at all-time highs. The price can be highly unpredictable, so always make sure to mark your channels and consider institutional movements of supply and demand.
Best regards.
