OK if we follow the indicators and candle signals and price action
We have to look at the most likely outcome and ask ourselves What is the chances of this happening What is the Conditions we are making this decision under
How valid is it.
QUESTION 1 WILL WE SEE A BREAK OUT Let's ask the easiest question IS THE MARKET AT RESISTANCE ANSWER YES.
IS THERE ANY TURNING SIGNALS ANSWER YES A DOJI PULLING BACK UNDER RESISTANCE AND DROP FORMING BEARISH INGULFING ON 1H.
QUESTION WHAT IS THE CONDITIONS
WELL WE HAD A RALLY TO TOP OF BOX RANGE TWO FAILED BREAK OUTS HMMM
ADX HAS SHOWN BULL STRENGHT HAS BEEN NEUTRALIZED BY CONSOLIDATION RSI IS UNDER 50 A NEGATIVE SIGN WE ARE INSIDE THE CLOUD ALSO
CAN WE SAY BREAK OUT IS VALID
RIGHT NOW NO. TO ME INDICATORS DON'T POINT TO A BREAK OUT SUPPORT AND RESISTANCE DON'T POINT TO A BREAK OUT
BOX RANGE SUPPLY AND DEMAND DON'T POINT TO BREAK OUT.
I GUESS THE STRONG BULLISH MOVEMENT AND BULLSH PENDANT ON 4H POINTS TO BREAK OUT BUT ISIT ENOUGH
ANALYSIS REQUIRE A LOOK AT BOUGHT SIDES OF THE COIN EVALUTE THE PROS AND CONS LOOK AT ALL ANGLES AND MAKE A CALCULATED DECISION IF YOUR WRONG WELL YOU DID THE BEST YOU CAN
I THINK A BREAK BELOW THE RED LINE WOULD BE CONFIRMATION OF SELL
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As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.