On the daily chart, the price is at the lower boundary of the sideways range. Yesterday's trading day favored the buyer with decreasing volume.
On the hourly chart, the buyer resumed from the key impulse bar and twice attempted to breach the level of 4259.2 on volume but failed to do so effectively (failed to close an hourly candle above the level).
The buyer has not made a strong presence yet.
As mentioned earlier, local sales yesterday were observed from the level of 4259.2. For systemic sales, it is advisable to wait for the price to interact with the daily candle of October 19, 2023. Or after a successful breakout of the lower limit of the daily range and the seller defending this breakout.
Local purchases can be sought upon the buyer's protection level at the lower boundary of the daily range: 4217.4. Targets are 4259.2, 4269.9.
Good luck in trading!
Disclaimer:
This case study is for educational purposes only and does not constitute investment advice or recommendations.
The trading or investment ideas presented here are for illustrative purposes only and are an integral part of a case study demonstrating the concepts of using volume to analyze or trade within the market scenarios discussed.
On the hourly chart, the buyer resumed from the key impulse bar and twice attempted to breach the level of 4259.2 on volume but failed to do so effectively (failed to close an hourly candle above the level).
The buyer has not made a strong presence yet.
As mentioned earlier, local sales yesterday were observed from the level of 4259.2. For systemic sales, it is advisable to wait for the price to interact with the daily candle of October 19, 2023. Or after a successful breakout of the lower limit of the daily range and the seller defending this breakout.
Local purchases can be sought upon the buyer's protection level at the lower boundary of the daily range: 4217.4. Targets are 4259.2, 4269.9.
Good luck in trading!
Disclaimer:
This case study is for educational purposes only and does not constitute investment advice or recommendations.
The trading or investment ideas presented here are for illustrative purposes only and are an integral part of a case study demonstrating the concepts of using volume to analyze or trade within the market scenarios discussed.
Good luck with your trading!
