After Mondays explosion in price, if one were to zoom out they would see that all we did was bounce around the range bottom to the range top. As long as we stay defined by these edges we are simply in a box and should get too excited with moves up or down. Any close above or below these extremities would then give us a signal as to where we are heading next, whether its another test at the previous swing high or another visit to the yearly lows.
After the EMAs crossed over bullish, they seem to be running out of steam and giving the slightest hint of rolling over again. The outlined path of possible price action is shown in the chart and we could either come back down and test the demand zone before moving higher and testing resistance again OR we can head straight up to test supply before pulling back a little.
Thanks guys
After the EMAs crossed over bullish, they seem to be running out of steam and giving the slightest hint of rolling over again. The outlined path of possible price action is shown in the chart and we could either come back down and test the demand zone before moving higher and testing resistance again OR we can head straight up to test supply before pulling back a little.
Thanks guys