1. The price was in a well-defined downtrend, as shown by the descending trendline (upper blue line) and a series of lower highs and lower lows. This remained valid until the recent movement that broke this structure.
2. A higher low has formed, suggesting a weakening of the downtrend. The price has broken the descending trendline (upper blue line), indicating a possible market structure shift. The horizontal yellow and red zones were previously acting as resistance. Price is now testing that area.
3. Higher highs and higher lows: This marks the beginning of a bullish structure.
4. The current structure indicates a reversal in progress, with a break of the downtrend line, a higher low, and support from the moving average. However, price is at a critical resistance zone. Reversal confirmation will come with: a) A clear and sustained breakout above resistance; b) A successful retest followed by a continuation upward; c) And increasing volume in buying pressure.
2. A higher low has formed, suggesting a weakening of the downtrend. The price has broken the descending trendline (upper blue line), indicating a possible market structure shift. The horizontal yellow and red zones were previously acting as resistance. Price is now testing that area.
3. Higher highs and higher lows: This marks the beginning of a bullish structure.
4. The current structure indicates a reversal in progress, with a break of the downtrend line, a higher low, and support from the moving average. However, price is at a critical resistance zone. Reversal confirmation will come with: a) A clear and sustained breakout above resistance; b) A successful retest followed by a continuation upward; c) And increasing volume in buying pressure.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.