Good morning traders!! I hope you are doing great!
Let me walk you through this opportunity. You can see the next support level as a green box, which has been tested twice in the past. Additionally, note how the price got there. It came down slowly and with no momentum, putting a lot of pullbacks. This tells me that the price is reluctantly going lower, and I expect that the bulls are going to enter on this level of support and finally push the market higher.
Now, I do not have a reason for entry yet, so I will be updating this if I get an opportunity to enter, like a double bottom on the 1H for instance.
You are free to comment, criticize, or ask!
Let me walk you through this opportunity. You can see the next support level as a green box, which has been tested twice in the past. Additionally, note how the price got there. It came down slowly and with no momentum, putting a lot of pullbacks. This tells me that the price is reluctantly going lower, and I expect that the bulls are going to enter on this level of support and finally push the market higher.
Now, I do not have a reason for entry yet, so I will be updating this if I get an opportunity to enter, like a double bottom on the 1H for instance.
You are free to comment, criticize, or ask!
Emir iptal:
Price closed below structure, so I will no longer be looking for long entries.
