M1 : Still in a broad bear trend channel, below the clouds
W1 : Same than M1, but some potential recovery signal in progress
D1 : In an uptrend channel, still below the clouds, yesterday's price action triggered
a long white candle (which is usually a bullish signal) but needs to be confirmed of course.
Looking ahead in case of a trend continuation on the upside, next significant resistance level
is @ 22.50 ahead of 24.30.
A sustainable move above 24.30 would be seen as a very bullish signal as at the same time
that would confirm also a breakout of the clouds in this time frame. Wait for D1 closing level.
H4 : Former downtrend line resistance broken, above the clouds.
H1 : Inside of the clouds, attempting to exit the clouds on the upside
M30 : Top of the clouds broken
M15 : Same picture than M30
M5 : Above the clouds
CONCLUSION :
TREND REVERSAL IN PROGRESS, WATCH CAREFULLY PRICE ACTION IN STARTING FROM M5 TOWARDS D1, W1 AND M1
Good luck
Have a nice trading day
All the best
Take care
And last but not least if you find my work valuable for your trading strategy, please do not forget to like it and add Ironman8848 for those who did not do yet :-)
Thanks a lot in advance
Best
Ironman8848
W1 : Same than M1, but some potential recovery signal in progress
D1 : In an uptrend channel, still below the clouds, yesterday's price action triggered
a long white candle (which is usually a bullish signal) but needs to be confirmed of course.
Looking ahead in case of a trend continuation on the upside, next significant resistance level
is @ 22.50 ahead of 24.30.
A sustainable move above 24.30 would be seen as a very bullish signal as at the same time
that would confirm also a breakout of the clouds in this time frame. Wait for D1 closing level.
H4 : Former downtrend line resistance broken, above the clouds.
H1 : Inside of the clouds, attempting to exit the clouds on the upside
M30 : Top of the clouds broken
M15 : Same picture than M30
M5 : Above the clouds
CONCLUSION :
TREND REVERSAL IN PROGRESS, WATCH CAREFULLY PRICE ACTION IN STARTING FROM M5 TOWARDS D1, W1 AND M1
Good luck
Have a nice trading day
All the best
Take care
And last but not least if you find my work valuable for your trading strategy, please do not forget to like it and add Ironman8848 for those who did not do yet :-)
Thanks a lot in advance
Best
Ironman8848
