Starting with the Short Term grouop of Timeframes (30-min. 1-hr. 90-min. 2-hr. 3-hr. 4-hr. 6-hr. 8-hr.)
It is worth noting initially that with the exception of the 3h, the Green EMA is higher than the Energy in all TFs indicating bullish sentiment. In all Timeframes in this group the Red RSI and the Blue LSMA are above level 50 with the exception of the 8h in which the Blue LSMA is headed in that direction. In the 8h while the Blue LSMA is below 50 the Bollinger Band Basis has been acting as support.
In the 30m & 1h the price action has been residing with the candle bodies for the most part between the Aqua / Orange upper Bollinger Bands as is expected with the Red RSI & Blue LSMA at their current levels above 70.
Additionally in these Timeframes, since the Blue LSMA has approached and crossed above 50 we have seen the BBs begin to expand. This is significant as with current RSI & LSMA levels, we can expect the price action to remain between the Aqua/Orange upper BBs and accelerate to the upside with the expansion.
In the 90m and 3h the Red RSI is above 80 and the Blue LSMA is above 60. The Red RSI has crossed bullish above the Blue LSMA and as with the previous Timeframes we have seen the BBs begin expansion.
We would like to see the Green EMA to get above the Energy in the 3h to indicate a continuation of the bullish momentum seen in the lower Timeframes. Although in the 8h the Energy is approaching level 50 (currently Level 51.9) we have seen a reversal of the Green EMA to the upside and judging by the fact that: a) the Red RSI has made contact with the Green EMA as it rises indicating upward pressure and b) that in the 6h the Red RSI has also made contact with the Green EMA as it rises and the Energy has crossed above level 50, there is a good chance that the Energy in the 8h can turn back up forming a continuation of upward pressure.
I will try and have a look at higher timeframes and update accordingly.
30,60,90,2h
As always - this is not financial advice but just my view of current market dynamics.
One has to be aware that analyses are done on the basis of what the indicators are saying at the time and things can change. It is important to always monitor the scalping group of timeframes as we will see changes propagate up from there.
If you got value from this analysis, please hit the like button
Trade safe
aBL
It is worth noting initially that with the exception of the 3h, the Green EMA is higher than the Energy in all TFs indicating bullish sentiment. In all Timeframes in this group the Red RSI and the Blue LSMA are above level 50 with the exception of the 8h in which the Blue LSMA is headed in that direction. In the 8h while the Blue LSMA is below 50 the Bollinger Band Basis has been acting as support.
In the 30m & 1h the price action has been residing with the candle bodies for the most part between the Aqua / Orange upper Bollinger Bands as is expected with the Red RSI & Blue LSMA at their current levels above 70.
Additionally in these Timeframes, since the Blue LSMA has approached and crossed above 50 we have seen the BBs begin to expand. This is significant as with current RSI & LSMA levels, we can expect the price action to remain between the Aqua/Orange upper BBs and accelerate to the upside with the expansion.
In the 90m and 3h the Red RSI is above 80 and the Blue LSMA is above 60. The Red RSI has crossed bullish above the Blue LSMA and as with the previous Timeframes we have seen the BBs begin expansion.
We would like to see the Green EMA to get above the Energy in the 3h to indicate a continuation of the bullish momentum seen in the lower Timeframes. Although in the 8h the Energy is approaching level 50 (currently Level 51.9) we have seen a reversal of the Green EMA to the upside and judging by the fact that: a) the Red RSI has made contact with the Green EMA as it rises indicating upward pressure and b) that in the 6h the Red RSI has also made contact with the Green EMA as it rises and the Energy has crossed above level 50, there is a good chance that the Energy in the 8h can turn back up forming a continuation of upward pressure.
I will try and have a look at higher timeframes and update accordingly.
30,60,90,2h
As always - this is not financial advice but just my view of current market dynamics.
One has to be aware that analyses are done on the basis of what the indicators are saying at the time and things can change. It is important to always monitor the scalping group of timeframes as we will see changes propagate up from there.
If you got value from this analysis, please hit the like button
Trade safe
aBL