watch price action on the key area (blue box)
price is looking to retest that area (previously resistance, now acts as support)
watch for confirmation and possible long entries on lower time frames.
looking to the left, the blue box zone is definitely a key area of value. watch out for price action on the ellipse zone, and if price permits, look for short opportunities.
wait for a retest on that trend line. if price holds that trend line as support (previously a resistance), then look for valid long entries on lower tf.
price is currently flirting with strong key area (blue box). monitor price action on lower time frames.
1. support will hold and price bounces to retest resistance (trend line)
2. if driving force is enough, price will easily break that area of value.
watch what happens on this key area (blue box).
1. price will easily break this key level and retest (this time as resistance). if so, look for valid short entries during the pullback.
2. price will bounce on this area and retest that neckline (yellow box) again.
either way, manage ur risks and set ur stop loss!
formed double top on daily tf. on a weekly tf, tried to break out (twice) of that 0.618 fib area but failed.
price is currently on a key area. high probability for this pair to move to the downside.
watch price action on lower time frames, then look for valid short entries.
wait and observe price action near that blue resistance.
if price holds that area of value as resistance, look for valid short entries on lower time frames.
if price breaks out, wait for retest on upper trend line (now acts as support), look for valid long entries.
dont forget to manage ur risks and set ur stop loss. good luck!
may be looking to retest that blue box support. might wanna wait for confirmation near that area of value as to where the price will go. set your stop losses. good luck!
price failed to hold that trend line support. currently looking to retest that 0.5 fib line.
bullish: if it bounces off that fib support, rallies, and then closes above that trend line, it might be the end of retracement. look for long opportunities.
bearish: if price melts down that 0.5 fib level (next short-term support is the lower trend line), possible trend...
tried to break 0.5 fib line, failed then bounced. broke short-term trend line and closed above it. PPO about to cross. if price holds support at trend line, rallies and closes above 1.4200 level, uptrend may continue. set stop loss below trend line area. good luck!
