Flip Flip
Hi everyone,
Yesterday I have analyzed where I talked about how it will react from the last major resistance (which it did), the link is down below.
Today, we have lost all the bullish momentum that we got yesterday, and it is normal that this happens. Why? Because usually retail traders get in on this candle, we broke a resistance and we are retesting it as a support flip pattern), we haven't yet broke the low of the last bullish candle, and we are in an area of double support (support line and trendline).
I think that right now we are in an opportunity of buying the market as we are heading to the 10.69 level.
If we break this support, we are most probably going to meet the next major support around 7.84 level.
Please comment if you have any questions, I will try my best to answer them.
Thank you😊
Yesterday I have analyzed where I talked about how it will react from the last major resistance (which it did), the link is down below.
Today, we have lost all the bullish momentum that we got yesterday, and it is normal that this happens. Why? Because usually retail traders get in on this candle, we broke a resistance and we are retesting it as a support flip pattern), we haven't yet broke the low of the last bullish candle, and we are in an area of double support (support line and trendline).
I think that right now we are in an opportunity of buying the market as we are heading to the 10.69 level.
If we break this support, we are most probably going to meet the next major support around 7.84 level.
Please comment if you have any questions, I will try my best to answer them.
Thank you😊
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