(4h, $EURAUD) the general price movements is in major-ascending-channel after confirm the support and resistance level.
The current state of the price is moving in consolidation-area after getting bounced from the Support-level of the Mini-ascending-channel, we can tell by the previous price action that the price was facing high selling pressure which is normal to push the price to it's logic zone where it gonna get bounced from. The price got rejected by the Resistance and support-levels of the area of consolidation while there's no confirmation for breakout yet, there's some fakeout around the levels but nothing serious and the volume confirms this, The deal now is to wait for the price to breakout and confirm it's direction by start making higher highs / higher lows, in order to go Long and trade following the general price movements. *The price ain't oversold/overbought and that's mean that this consolidation area will not stay for a long-time, meaning, the breakout is anytime soon.
⏰ Set Alert at (1.613) level in order to catch the next Long movements after breakout & getting all the Confirmations.
- Original post: stocktwits.com/itsFi...as/message/177610685
- HQ Chart: https://ibb.co/ggY64Fb
The current state of the price is moving in consolidation-area after getting bounced from the Support-level of the Mini-ascending-channel, we can tell by the previous price action that the price was facing high selling pressure which is normal to push the price to it's logic zone where it gonna get bounced from. The price got rejected by the Resistance and support-levels of the area of consolidation while there's no confirmation for breakout yet, there's some fakeout around the levels but nothing serious and the volume confirms this, The deal now is to wait for the price to breakout and confirm it's direction by start making higher highs / higher lows, in order to go Long and trade following the general price movements. *The price ain't oversold/overbought and that's mean that this consolidation area will not stay for a long-time, meaning, the breakout is anytime soon.
⏰ Set Alert at (1.613) level in order to catch the next Long movements after breakout & getting all the Confirmations.
- Original post: stocktwits.com/itsFi...as/message/177610685
- HQ Chart: https://ibb.co/ggY64Fb