Corrective Structures on the 4HS chart. RIPPLE by ThinkingAntsOk
Main items we can see on the chart:
a) The price has reversed on a weekly support resistance zone (check the weekly chart to understand the relevance of that level better)
b) After that, we can see an impulse, remember that the price moves between impulse and corrections after an impulse comes a correction and vice-versa. The main idea of this is that when you find a clear correction like the one we are observing + the breakout of it, That gives us an idea that a new impulse may be on its way.
c) Observe that we can see a Fractal situation after the breakout of the corrective structure 2/B
d) It is fractal because we have a reversal movement on a 4hs support zone, and after that, we can see a corrective Structure ABC pattern formed above the broken one
e) based on the previous explanations we expect a bullish movement towards the next resistance zone IF the price breaks above B (minor corrective structure)
a) The price has reversed on a weekly support resistance zone (check the weekly chart to understand the relevance of that level better)
b) After that, we can see an impulse, remember that the price moves between impulse and corrections after an impulse comes a correction and vice-versa. The main idea of this is that when you find a clear correction like the one we are observing + the breakout of it, That gives us an idea that a new impulse may be on its way.
c) Observe that we can see a Fractal situation after the breakout of the corrective structure 2/B
d) It is fractal because we have a reversal movement on a 4hs support zone, and after that, we can see a corrective Structure ABC pattern formed above the broken one
e) based on the previous explanations we expect a bullish movement towards the next resistance zone IF the price breaks above B (minor corrective structure)