D1 price is on primary bearish with secondary market rally.
H4 price is located inside Ichimoku cloud crossied Senkou Span A line for the reversal to the bullish market condition:
- The price crossed Senkou Span A line to be reversed from primary bearish to the primary bullish market condition on close bar.
- Price is located inside the cloud/kumo which is indicating the secondary ranging.
- Chinkou Span line of Ichimoku indicator crossed the price from below to above for good breakout of the price movement.
- Nearest resistance level is 1.2541
- Nearest support level is 1.2398
W1 price is on primary bearish with secondary flat.
MN price
is on bearish market condition with Chinkou Span line crossed from above to below for breakdown with nearest support level as 1.2485.
If D1 price will break 1.2577 resistance level on close D1 bar so the secondary market rally will be continuing.
If D1 price will break Senkou Span A line (1.2696) so we may see the reversal of the price movement from bearish to the bullish.
If not so we may see the ranging within bearish market condition with 1.2357 as a support level.
- Recommendation for long: watch D1 price to break 1.2577 resistance for possible buy trade
- Recommendation
to go short: watch the price for breaking 1.2357 support level for possible sell trade
- Trading Summary: ranging
| Resistance | Support |
|---|---|
| 1.2577 | 1.2485 |
| 1.2696 | 1.2357 |
| 1.2995 | N/A |
SUMMARY : bearish
