Back with another analysis, and i wish you all the best this trading week.
Looking over the 4HR timeframe, i see our last Blue candle we had just before the most recent RED candle we had is giving us a potential direction for price to back and cover. A factor going into this thought is my Stochastic Oscillator indicators, and of them are already getting towards the oversold area. If we were to get BULLISH pull back up I'm very confident in price taking us to the 32.3K Resistance area. Then from there we can hopefully see a pull back down to our very strong support level at 31.5k and cover another Potential Direction candle we had. This is just my personal opinion, Trade Safely!
CURRENCYCOM:US30
Looking over the 4HR timeframe, i see our last Blue candle we had just before the most recent RED candle we had is giving us a potential direction for price to back and cover. A factor going into this thought is my Stochastic Oscillator indicators, and of them are already getting towards the oversold area. If we were to get BULLISH pull back up I'm very confident in price taking us to the 32.3K Resistance area. Then from there we can hopefully see a pull back down to our very strong support level at 31.5k and cover another Potential Direction candle we had. This is just my personal opinion, Trade Safely!
CURRENCYCOM:US30