ORDIUSDT. The seller has reached targets
The seller has reached their targets from the previous review - 55.2 and 49.
On the daily timeframe, there is a sideways market, and the seller's vector 7-8 has hit all targets. The price touched the lower boundary of the sideways market at 40.685 and showed a bullish reaction. I am observing the actions of the buyer. There is a threat for purchases - the seller's zone with a lower boundary at 51.532 (red background).
On the hourly timeframe, there is a downtrend. The beginning of the last seller's impulse is at 54.68. Notice how the buyer cannot overcome 50% of the seller's last impulse (46.84).
I will be looking for a selling opportunity from the seller's zone on the daily timeframe.
Pay attention to the 5-minute timeframe. There is a sideways market. If the buyer attacks point 4 of the sideways market (49.88) and enters the zone of 51.532 (while on the hourly timeframe, the buyer does not absorb the last seller's bearish bar), and then the seller defends 49.88, we can look for sales to play against the opposite boundary of the 5-timeframe sideways market and possibly update the local minimum.
On the daily timeframe, there is a sideways market, and the seller's vector 7-8 has hit all targets. The price touched the lower boundary of the sideways market at 40.685 and showed a bullish reaction. I am observing the actions of the buyer. There is a threat for purchases - the seller's zone with a lower boundary at 51.532 (red background).
On the hourly timeframe, there is a downtrend. The beginning of the last seller's impulse is at 54.68. Notice how the buyer cannot overcome 50% of the seller's last impulse (46.84).
I will be looking for a selling opportunity from the seller's zone on the daily timeframe.
Pay attention to the 5-minute timeframe. There is a sideways market. If the buyer attacks point 4 of the sideways market (49.88) and enters the zone of 51.532 (while on the hourly timeframe, the buyer does not absorb the last seller's bearish bar), and then the seller defends 49.88, we can look for sales to play against the opposite boundary of the 5-timeframe sideways market and possibly update the local minimum.
Comment:
For a more detailed explanation of how to read charts and consider the relationship of different time frames when searching for trades, you can refer to the article
Good luck with your trading!
