The story :
Price had been increasing steadily in the past weeks, and currently hovering below the resistant line A which was a major high pivot back in March 2020.
There was a Shortening of Thrust on the upmove recently (compare up move 2 with up move 1), which is a sign of weakness.
On the Weiss wave indicator below, we can see that the cummulative volume of the up wave had been getting smaller (1 > 2 > 3 ), indicating weakness. The down wave between upwave 2 and 3 (red down arrow) had the highest downwave volume so far this week, and this might indicate a bearish change of behaviour.
During the latest upmove 3 also there is a no demand bar (B), which is a small spread up bar with light volume (lesser volume than previous 2 candles). This is followed by an upthrust bar C.
I'm looking forward for price to move down ward till the horizontal line D, which was a previous major resistant line.
Trade at your own risk, comments are welcomed
Price had been increasing steadily in the past weeks, and currently hovering below the resistant line A which was a major high pivot back in March 2020.
There was a Shortening of Thrust on the upmove recently (compare up move 2 with up move 1), which is a sign of weakness.
On the Weiss wave indicator below, we can see that the cummulative volume of the up wave had been getting smaller (1 > 2 > 3 ), indicating weakness. The down wave between upwave 2 and 3 (red down arrow) had the highest downwave volume so far this week, and this might indicate a bearish change of behaviour.
During the latest upmove 3 also there is a no demand bar (B), which is a small spread up bar with light volume (lesser volume than previous 2 candles). This is followed by an upthrust bar C.
I'm looking forward for price to move down ward till the horizontal line D, which was a previous major resistant line.
Trade at your own risk, comments are welcomed
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.