- on the weekly we are bullish due to market breaking out of major resistance earlier this year around jan 23rd
- and then the market went on to form a new higher low point around the previous lower high point which was broken
- now we are currently at the high high point and market showed signs of respecting that level during the last week but has held it's bullish momentum this week and i see it breaking out the higher high
- down onto the daily market has been in a range for 3 days but today's daily shows some buying pressure
- currently waiting for the range on the H1 to breakout to the upside to go long, i am leaning more towards being bullish also because on lower timeframes market is forming HH'S and HL's
- if it breaks to the downside i'll revisit my analysis and make a decision from there
- tp and sl are as shown on the chart
God bless :)
- and then the market went on to form a new higher low point around the previous lower high point which was broken
- now we are currently at the high high point and market showed signs of respecting that level during the last week but has held it's bullish momentum this week and i see it breaking out the higher high
- down onto the daily market has been in a range for 3 days but today's daily shows some buying pressure
- currently waiting for the range on the H1 to breakout to the upside to go long, i am leaning more towards being bullish also because on lower timeframes market is forming HH'S and HL's
- if it breaks to the downside i'll revisit my analysis and make a decision from there
- tp and sl are as shown on the chart
God bless :)