Weekly levels: grey Monthly: Black Daily: yellow And some other supports and resistances (Weekly and daily)
As i wrote last week, we didn't get out of the bear market yet. On a log chart, we never passed the Daily line.
Here price action show us a bullish doji and an inside bar is forming. There is a red sell zone just above. A nice bullish move would be a cross above the zone. Otherway, i'am still expecting a rebound from the sell zone to the zone under us (10427) where there is lots of confluences and supports (monthly,weekly, daily..). We are in a bull impulse still, so this doesn't have to go until there. We will see. At this point i don't except a deeper correction. Have a look at the monthly and weekly chart to see the trading range that is in play. In monthly, we are at a k point because we have a bullish inside bar wich can turn as a bearish inverted hammer.. (this is just the beginnig of the month, the bar is open, so will see how this go). The weekly is red but i wouldn't be concern until it goes under 10427)
Trade chiuso: stop raggiunto
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Looks like somebody is playing with my idea lol.. click play
I think this retracement is due to the fact that all the buyers were waiting this inverted H&S that everybody was expected, and a breakout of the daily line. But if nobody buy before, it will never happen.. To confirm a HS, you need to see a break up of 3-5% with an increase of the volume. Usually, a left leg has a lot of volume, the head a lot too, and le right leg has less volume.