Price has been strong bearish and made a few retracement :-
the first retracement would be at the gray box :-
Depending How Price React... in Gray Box
It will either Drop or Rally up to Supply
Bearish :
1. Price made a subsequent Bearish Drop
2. Now .. price retrace and tested previous Resistance ( Red line )
3. Waiting how price will go back and react to the Supply Zone ( blue box )
In Weekly Price Drop significantly and made a Lower Low.
This week price has returned back to the retracement Zone ( GRAY BOX ).
Depending what market is planning to decide... need to have a clear indication that price will want to go up to the supply zone or break the Gray Box .. to hint for a bearish move.
Wait n see Next Week
Potential Price may Go Bearish until the Previous SNR Level.
Depending how Price will do next week.. it may temporary retrace lower ... but may reject and go Bullish align with the Strong Movement Up
Temporary Bearish as a Retracement
Bounce on Support / Resistance Level as Continuation Trend
Bearish for the Week
1. Price bounce at Demand Zone ( Weekly )
2. But price made Lower Low in the daily into the Demand Zone
3. Potential Price to decide to go is at the PRZ ( Doji Zone ) - A nice Ace Zone
Bearish for the Week
Price make Lower Low ( in daily & Weekly )
Price is in a potential PRZ,
May bounce on either the Gray / Blue Zones.
Else Price may hint for a Change of trend when Create a Higher High above the Blue Zone
Price Drop Significantly and made Lower Low
- The trend for next week will be Bearish Biased
Potentially Price may bounce at
- Daily SNR
- Daily Supply Zone
Bearish Direction because Price made Lower Low in Daily TF.
Price retrace bullish up till Daily Doji Candle...
Price make go bullish but may react and bounce under the red dashed resistance level / zone.
( still look to sell )
But once broken ( red dashed resistance level )
Potential hint of market to be bullish
