Hello traders
I'll start with the weekly time frame :
you can see price get bounce from weekly support and rich higher price target and now start to retracement but we need to zoom in to achieve more information .
so let's dive into the daily timeframe :
in the daily we can see price create a beautiful flag or something looks like falling wedge and clearly breakout from the descending resistance line but as you can see in the picture below still we haven't seen any huge volume to count this as break out :
in the 4h time frame we can see price break the descending resistance line and now retest it as support and also testing 21ema but for opening long position we must to wait for price to break above 4h structure and close at least one 4h candle above it.
I hope you enjoyed this analysis.
Do not forget to like and subscribe
I'll start with the weekly time frame :
you can see price get bounce from weekly support and rich higher price target and now start to retracement but we need to zoom in to achieve more information .
so let's dive into the daily timeframe :
in the daily we can see price create a beautiful flag or something looks like falling wedge and clearly breakout from the descending resistance line but as you can see in the picture below still we haven't seen any huge volume to count this as break out :
in the 4h time frame we can see price break the descending resistance line and now retest it as support and also testing 21ema but for opening long position we must to wait for price to break above 4h structure and close at least one 4h candle above it.
I hope you enjoyed this analysis.
Do not forget to like and subscribe