You can see price has moved away aggressively from a Daily demand level (lower blue box), which is also a H4 Rbr. It was able to break a pivot/supply (dashed line- dbd) which to me shows bulls in control. A new daily demand level was created. If price decides to come back down to it before it reaches the top supply zone, ill be looking to take this long. Price could very well be forming a base and could then rally up into the supply zone. Will need to re-asses if it does.
Like always, no blind buying. Will be switching to lower tf to confirm and find entries.
Analysis brought to you by the indicator that never lies..price action.
Like always, no blind buying. Will be switching to lower tf to confirm and find entries.
Analysis brought to you by the indicator that never lies..price action.