ThomThio

ThomThio Updated 

1. Price could not beat the recent high, expecting market to correct sooner than expected 2. Price *should not* go further than the support range, unless a truly bearish move occurs. If that occurs, we can continue being bearish - update in a few hours time!

ThomThio Updated 

1. Strong movement downwards, and we think it is headed for a support level within a few hours 2. NOTE: we are trading against the trend, another intracycle trade. From a preliminary analysis standpoint, our Return/Risk ratio should go down in relation to the probabilities where we want to exit, and the likely stop we set to exit if the trade goes against us.

ThomThio Updated 

1. A slight correction in trend, leading to an upwards analysis. 2. Price has touched support level way back in time, and may hit the resistance area soon! This is our target exit area.

ThomThio Updated 

1. Hit a recent high. We except bears to correct to a certain bottom. 2. We are fighting the main trend though - trading within the cycle! 3. Prices were fought back by bears as seen from the candle at the recent high, implying strong resistance level.

ThomThio Updated 

1. Good uptrend 2. Alot of space for bulls to fill the area!

ThomThio Updated 

1. Price has hit a resistance, and bears seem to be winning 2. Long way down for the bulls to keep fighting!

ThomThio Updated 

1. Resistance at very low levels. Possible short to the level and quick exit. 2. Implies overnight movement. Chance is small, though possible

ThomThio Updated 

1. It has hit resistance 2. Bears seem to overpower bulls at this level

ThomThio Updated 

1. Structure has changed to be bearish, as recent highs could not break the last high at all. 2. Immense bullish strength is needed to correct, for hourly, 4 hourly and daily! Possible support @ 0.75360, resistance @ 0.75831. Breaking these levels will give us a better idea of who is in control. Will update in 2 hours time :)

ThomThio

Less is more. Learning to read price action and making an educated guess - everyone starts somewhere I guess. Hope to grow and learn with the community!