Looking at the immediate price action
OK we can look at the immediate price action in terms of candles to determine a possible out come.
This technique can help determine weather we are going to see a rally or a drop to lower levels.
Of course all candle and price action movements must be used within context of market conditions and compared to indicators oscillators.
SO LET'S LOOK INTO THE PRICE ACTION AND CANDLES FIRST
We can clearly see we have broken above the resistance level on the second attempt but still holding there creating a consolidation or box range.
THis in it self is a negative sign for more up swing.
THE range between 33800 and 35400
The continuous neutralization of the bulls by the bears for now is kinda a sign of bearishness.
But what makes this more potent is the events taking place around this area.
1.34500 is the resistance level indicated buy past levels that was respected as support and resistance.
At this point it seems to be the central point between the bull break out and bearish drop.
In the first 5 candles we see the battles for a rally being strong as the bears keep on pushing back
Why do we look at it in this way
The rally from major support is clearly a bullish move to keep the 30 000 level intact
The question is is this major or just a emotional rush to keep the support from caving.
Volume is not very high in this case
Could be a emotional rush
If so be careful for buy entries.
THE patterns we are seeing if we keep the rally in mind is a push below the 34500 level in the first 5 candles
Leading to dojis being form.
As we know a doji is a sign of a standoff between the two rivals.
THE wicks of the doji can indicate to us what is happening here.
Are the bulls wining or he bears.
THE last candle is showing some bearish rejection but its resting on the 34500 level.
This indicate we could see a break on this level if things don't change before the close of this candle.
THE INDICATORS
The ichimoku is still bearish on the daily and turning bullish on the 4h
The Bollinger and the break out of the cloud shows us some strong bearish resistance there
As indicated in previous analysis the hidden box range is in play here
If so this is just a secondary test of this level. The rsi is above 50
And the adx is showing a complete neutralization of the bearish move down.
So in context signals are mix
With a slight hidden advantage to the bears still
Besides all the other info
We are looking at the immediate context here.
So let's see who wins this level.
This technique can help determine weather we are going to see a rally or a drop to lower levels.
Of course all candle and price action movements must be used within context of market conditions and compared to indicators oscillators.
SO LET'S LOOK INTO THE PRICE ACTION AND CANDLES FIRST
We can clearly see we have broken above the resistance level on the second attempt but still holding there creating a consolidation or box range.
THis in it self is a negative sign for more up swing.
THE range between 33800 and 35400
The continuous neutralization of the bulls by the bears for now is kinda a sign of bearishness.
But what makes this more potent is the events taking place around this area.
1.34500 is the resistance level indicated buy past levels that was respected as support and resistance.
At this point it seems to be the central point between the bull break out and bearish drop.
In the first 5 candles we see the battles for a rally being strong as the bears keep on pushing back
Why do we look at it in this way
The rally from major support is clearly a bullish move to keep the 30 000 level intact
The question is is this major or just a emotional rush to keep the support from caving.
Volume is not very high in this case
Could be a emotional rush
If so be careful for buy entries.
THE patterns we are seeing if we keep the rally in mind is a push below the 34500 level in the first 5 candles
Leading to dojis being form.
As we know a doji is a sign of a standoff between the two rivals.
THE wicks of the doji can indicate to us what is happening here.
Are the bulls wining or he bears.
THE last candle is showing some bearish rejection but its resting on the 34500 level.
This indicate we could see a break on this level if things don't change before the close of this candle.
THE INDICATORS
The ichimoku is still bearish on the daily and turning bullish on the 4h
The Bollinger and the break out of the cloud shows us some strong bearish resistance there
As indicated in previous analysis the hidden box range is in play here
If so this is just a secondary test of this level. The rsi is above 50
And the adx is showing a complete neutralization of the bearish move down.
So in context signals are mix
With a slight hidden advantage to the bears still
Besides all the other info
We are looking at the immediate context here.
So let's see who wins this level.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.