My Original analysis was a short looking from the daily and smaller time-frames but after looking at the HTF's numerous times I now believe that is it a LONG.
The General trend on the HTF is Bulls, have also seen multiple reversal wicks whilst price moves sideways stuck in a range, as multiple pushes by sellers to push price beneath the support line become exasperated
Expecting a pull back to the original support area that price pushed up from as market makers seek liquidity
Wiping out all the early buyers, as we currently see price consolidating holding positions
After the pull back i expect price to push even higher than original and hit the previous nearest high although i wont be holding that long beyond my original TP. As I'm close enough to the 2:1 ratio already
Will wait and see how it plays out
The General trend on the HTF is Bulls, have also seen multiple reversal wicks whilst price moves sideways stuck in a range, as multiple pushes by sellers to push price beneath the support line become exasperated
Expecting a pull back to the original support area that price pushed up from as market makers seek liquidity
Wiping out all the early buyers, as we currently see price consolidating holding positions
After the pull back i expect price to push even higher than original and hit the previous nearest high although i wont be holding that long beyond my original TP. As I'm close enough to the 2:1 ratio already
Will wait and see how it plays out
Comment:
Didn't jump in this trade due to other trades being taken but that bounce of the support line suggests to me that buyers are holding their liquidity there might see a spike then further movement up