short term correction

٢٣ أغسطس ٢٠٢٢

on this chart I mentioned we are moving in range for a while and price can go up to

hit the neckline of our M pattern.


for short term it is logical the price push upward and test the neckline of the pattern.

however there would be strong resistance and sellers try to pull the price downward one

more time but if the bulls make stronger at those level they can break the resistant level

and keep moving upward again.

the support dynamic line is our stop loss level if the price drop below our support dynamic level

it will drop to the strong demand zone. even can go lower if the last bottom can not support it.