Here's my weekly view. We still have not taken out the shooting star we were presented with at the start of last week. As well, you'll notice a blue trendline I have coming across which has not been taken out either. Until we get above last weeks high, I've still got a short bias on the weekly. The one problem I have with the shooting star is the prior candle to it was not a long full bodied candle. It was a dense candle instead. This last weekly candle, we started out short, but price was soon driven higher when we got below the shooting stars low. Now, on the top side, we did not make a new high. So, we have lower highs and lower lows. Another support for shorts. I do see sellers sitting at 1.69 and 1.732x area.
Now, for the long side, we did close last weeks candle with a full bullish candle, but we did not take out the prior weeks high though and again a lower low.. I can see buyers coming in this week around 1.62, 1579x and 1.536x. Notice that 1.536x also coincided with a diagonal trendline.
Now, for the long side, we did close last weeks candle with a full bullish candle, but we did not take out the prior weeks high though and again a lower low.. I can see buyers coming in this week around 1.62, 1579x and 1.536x. Notice that 1.536x also coincided with a diagonal trendline.
Just digging in the trenches like everyone else!