No more Mr Nice! - Important levels to watch and continuation
Heya my dear thriving community of hustlers and busters, traders and shillers, movers and shakers hope you are having a tremendous freaki'n day and did not get caught up in that nasty nasty price movement.
Before I proceed with all that lovely and well-timed mental masturbation, I have to say that I believe we are going to get bought up soon and we will be trading in 10050-10200 zone in no time, yet if this form will not have immediate continuation in the next 4 hours I'll watch the trendlines and price movement channels.
Several things to look for:
- As you can see the price has a respected median red line quite nicely and you can also see from lover timeframe charts that there was a persistent rejection on the line taking place, however, it did not hold and now we should expect it to act as flipped resistance.
- The price most likely will consolidate on 382 fib line, which is also a major level of resistance. You can see that this line has held up nicely so far however if it brakes
- we will move to downward sloping price channel, from which we have broken out from a week ago ( see blue totted price channel).
Hate to be a bear in this kind of situations, but right now we are much closer to 9400 than 11000, which could imply a bearish resolution sentiment for a somewhat bearish and somewhat mish-mashed price action.
Stay safe my people and let's make MONEEEY!
aaand, if you like my analysis of this market, please subscribe and show me your love by hitting LIKE.
Cheers
Archie
Before I proceed with all that lovely and well-timed mental masturbation, I have to say that I believe we are going to get bought up soon and we will be trading in 10050-10200 zone in no time, yet if this form will not have immediate continuation in the next 4 hours I'll watch the trendlines and price movement channels.
Several things to look for:
- As you can see the price has a respected median red line quite nicely and you can also see from lover timeframe charts that there was a persistent rejection on the line taking place, however, it did not hold and now we should expect it to act as flipped resistance.
- The price most likely will consolidate on 382 fib line, which is also a major level of resistance. You can see that this line has held up nicely so far however if it brakes
- we will move to downward sloping price channel, from which we have broken out from a week ago ( see blue totted price channel).
Hate to be a bear in this kind of situations, but right now we are much closer to 9400 than 11000, which could imply a bearish resolution sentiment for a somewhat bearish and somewhat mish-mashed price action.
Stay safe my people and let's make MONEEEY!
aaand, if you like my analysis of this market, please subscribe and show me your love by hitting LIKE.
Cheers
Archie
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