First it has to lean on the support are before it takes its way up
Once escape and retest, a big bullish move is expected
As dictated by higher time frames the price will lean on the very nearby support and go up as shown
The down movement from the bigger time frames started to fade away, so the trend line shall move slowly on its way from the current resistance toward the next support as shown on chart.
Dictated by the higher time frames, the price will escape from that resistance level, then will take off in a strong move like indicated on the chart.
Price is leaning on a good support area and heading toward the upcoming resistance, as the higher frames dictates that price go up
The price will go up , but first it has to lean in the support belwo, so it will get slightly down (where we are at, and then go strongly up;))
Due to Strong Support levels and formation of new down trend on 15m time frame
Regarding the downtrend, two patterns, and the higher time frames suppresses the price down
Price reflecting from a strong support, with higher time frames suppresses price to go down
Down Trend line met with a strong support .. odds are down
As i love to keep it simple, the price hit a strong support which happened to be at a down trend line, with a nice price action shows sellers are taking over
Breaking through pattern as shown, while in down trend already
Due to breakage of trend line, strong selling is anticipated as shown.
1. Price has reached a weekly close. 2. Price has reached a top of a trading range. 3. Volume profile shows high volume cluster at the selected zone. 4. Probability of price to reflect from the zone is 65% in my view. 5.I would enter half position and double it if price shoes reflection.
1. The price about to reach the bottom of a trading range. 2. The likelihood of the price reflecting is 65% from my view. 3. I would enter half position and double it if the price exceeded the zone.
1. The monthly, weekly & daily shows strong up trend. 2. If you get down to 15 minutes chart you will find a clear zone that likely to reflect the price back up. 3. If you used the fixed range volume profile indicator at the last up wave at the 15 minutes chart you will spot a support line right above the zone identified. 4. The trend line as a support.