All three timeframes of W1,D1 and H4 are downtrend, but now a W1 demand zone has the control. So I expect the price to break the H4 trendline and it will go high enough to touch D1 supply zone.I suggest you taking short at the nested H4 supply zone in the D1 supply zone. GOOD LUCK !!
Despite Ukraine/Russia war, market has been downtrend for months.This shows that price action controls the market not news or wars! M1 , W1 and D1 timeframes are downtrend. No Longs for now. Take only shorts at M1 , W1 and D1 timerames. GOODLUCK !!
Daily and weekly timeframes are downtrend, but we are still uptrend in monthly timeframe so we can have a long trade at the nested weekly demand zone in the monthly demand zone : Set buy limit at 598 , SL 541 TP 770 R:R 1:3 GOOD LUCK !!
XAUUSD is creating new demands and supplies are being eliminated,Also we can see HHs and we can easily draw an uptrend trendline.In monthly timeframe XAUUSD has created an ATH(All times high) and I expect it to be eliminated. LONG BIAS
If we look at the weekly chart, we can see that the market has broken the uptrend trendline but it's not downtrend YET!!
If market terminates the first demand, we can say that the market is downtrend and it will fall down to the second demand.
So now the market is in the consolidation phase.
I use pure Price Action to analyze charts. As you can see BTCUSDT is in a down trend channel. The Channel can be broken by the market both upwards or downwards.When the market breaks the channel,we can determine markets's next targets on the chart. Hope it's helpful !
