We are in a trading range and the market is neutral
In this analysis, we first follow the previous scenarios from May 2 until today.
We entered a channel after an upward trend with 170 ascending candles with strong momentum, and after its failure, we entered a trading range.
I have tried to write all the explanations in the chart so that you can easily follow.
After breaking the trading range with a trend-forming gap, we see the price falling with the target of the same trading range.
Since we are about 370 candles in a bearish correction trend, it seems that the previous upward trend has been forgotten and we are waiting for the formation of a new trend.
My entry targets are in the support I specified. And my exit targets are at minor and major resistances, and if I see a strong one-way trend, I will enter the direction of the trade.
In the chart, I have specified a trend line for a one-minute time frame, which is specified in the event of a breakout of the minor resistance target.
We entered a channel after an upward trend with 170 ascending candles with strong momentum, and after its failure, we entered a trading range.
I have tried to write all the explanations in the chart so that you can easily follow.
After breaking the trading range with a trend-forming gap, we see the price falling with the target of the same trading range.
Since we are about 370 candles in a bearish correction trend, it seems that the previous upward trend has been forgotten and we are waiting for the formation of a new trend.
My entry targets are in the support I specified. And my exit targets are at minor and major resistances, and if I see a strong one-way trend, I will enter the direction of the trade.
In the chart, I have specified a trend line for a one-minute time frame, which is specified in the event of a breakout of the minor resistance target.