thoughts on this

5 мая 2021 г.

Starting from the daily TF we can see that price rejected strongly from an area of supply around 85.000 meaning that we could expect for price to keep falling,I've also drawn a trendline below forming an Ascending Triangle. Going on to the 4hr TF if we take a look at the latest market structure we can see an MSS formation, market structure shift meaning that price was trending up but then the uptrend started to get weak and failed to make new higher highs and instead started making lower highs indicating a change of structure (direction), as for now I would wait for price to break the previous low and wait for a retest to get a better entry, we can also wait for the ascending triangle to break and take it from there for more confirmation.


This is not financial advice, trade at your own risk.