(1h timeframe)
DETAILS: at the 1h timeframe the price is inside a tunnel. (we have a 3 touches on every line)
after a strong breakout (big bullish candle with strong volume) the price did a retest back to the resistance line of the tunnel.
we can see how the price tried to return back down and got affected well by a strong support area and the ema 200. the candle responded well to the area and the ema (we can see it from the big bullish candle that came also with a strong volume).
I put a 3 strong areas (2 resistance area the upper ones and 1 support area the lower one)
on the chart and we can see how every time that the price touched those areas it responded well.
The current candle is bearish for now (closed as a spining top), waiting to see to where the price is headed.
DETAILS: at the 1h timeframe the price is inside a tunnel. (we have a 3 touches on every line)
after a strong breakout (big bullish candle with strong volume) the price did a retest back to the resistance line of the tunnel.
we can see how the price tried to return back down and got affected well by a strong support area and the ema 200. the candle responded well to the area and the ema (we can see it from the big bullish candle that came also with a strong volume).
I put a 3 strong areas (2 resistance area the upper ones and 1 support area the lower one)
on the chart and we can see how every time that the price touched those areas it responded well.
The current candle is bearish for now (closed as a spining top), waiting to see to where the price is headed.
Comment:
THE PRICE STARTED THE DAY STRONGLY WITH HUGH CANDLE
Trade closed: target reached