-Hello everyone!
On a 4-hour time frame, we can see that price is moving between these support and resistance lines. We can also see that price tested yellow support line and rejected but we can notice that price is in let's say consolidation and we can see that on lower time frames because we do not have high volatility.
-On lower time frames we can see that price retested both lines and rejected so we will see what is going to happen.
-We can also see that the price is supported by 100 period EMA which is solid confirmation for bullish movement but if you put 50 periods EMA on a 4-hour time frame you will see that line is resistance line last 8 hours.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
On a 4-hour time frame, we can see that price is moving between these support and resistance lines. We can also see that price tested yellow support line and rejected but we can notice that price is in let's say consolidation and we can see that on lower time frames because we do not have high volatility.
-On lower time frames we can see that price retested both lines and rejected so we will see what is going to happen.
-We can also see that the price is supported by 100 period EMA which is solid confirmation for bullish movement but if you put 50 periods EMA on a 4-hour time frame you will see that line is resistance line last 8 hours.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
Comment:
The price started moving in a bearish direction and the price tested and rejected the support area.