the trade bias on this idea is strictly based on technical analysis.
going straight to the monthly price chart liquidity pool ranging from 28.08800 to 26.39800 has been the current significant price area in control of price since a rejection from the area in 01 march 2022.
price has been also showing signs of bearish rejection from price levels @ 25.40550 failing multiple times to close above, price continues to indicate increasing bearish momentum with bearish trendline (acting as dynamic support & resistance) still intact with no full OHLC candlestick closing above and MONTHLY candlestick currently trading below bullish trendline which closes in 28days a close above is extra confirmation for a continued move to the downside.
i have targets at previous high @ 19.6500 with just below it resting fresh demand zone, but the next bearish price of interest is liquidity pool ranging from 22.00100 to 22.25650 if we clear it then all aboard the TP cruise ship.
put together by : Pako Phutietsile ( @currencynerd )
SUPPLY AND DEMAND RULES ALL MARKETS
going straight to the monthly price chart liquidity pool ranging from 28.08800 to 26.39800 has been the current significant price area in control of price since a rejection from the area in 01 march 2022.
price has been also showing signs of bearish rejection from price levels @ 25.40550 failing multiple times to close above, price continues to indicate increasing bearish momentum with bearish trendline (acting as dynamic support & resistance) still intact with no full OHLC candlestick closing above and MONTHLY candlestick currently trading below bullish trendline which closes in 28days a close above is extra confirmation for a continued move to the downside.
i have targets at previous high @ 19.6500 with just below it resting fresh demand zone, but the next bearish price of interest is liquidity pool ranging from 22.00100 to 22.25650 if we clear it then all aboard the TP cruise ship.
put together by : Pako Phutietsile ( @currencynerd )
SUPPLY AND DEMAND RULES ALL MARKETS
