Simple design with support and resistance target levels with a clear succession in mind for the main scenario. The levels are approximate and flexible with a bigger margin for error, but at the same time the whole blueprint for this main scenario can morph into something else depending of the circumstances and unfolding of events.
This scenario takes into account a main continuation of the bearish mood with a potential resistance zone in the green rectangle.
As usual in nen projects, it is advised to wait for initial developments and confirmation of the concept, with the price action reaction at the elements.
Not financial advice.
This scenario takes into account a main continuation of the bearish mood with a potential resistance zone in the green rectangle.
As usual in nen projects, it is advised to wait for initial developments and confirmation of the concept, with the price action reaction at the elements.
Not financial advice.
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Maybe the bears will take a little break and a revisit of 66 is possible.
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Here it is. The 1-2-3. Weirdly enough I am reluctant to go long in this position. Waiting for more to see if this level holds. There is a bigger margin for error in these levels, more like guidelines.
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1234. A correction towards the 5 level would be ideal if the script remains intact and the 6 level is not reached before that.
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Was thinking of retiring this project but looking at the unfolding of events I am thinking we might see 2 or 3 more interesting price action setups at these levels.
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Big rebound level 1
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Big match of pong pong between the levels with a win in the end for the bulls.