Hello! How are you? Good i hope!!
Yesterday, September 02 at 2:00 p.m. we had a 1st pullback on the vwap indicator, thus causing an impulse on the candles and volume, hence an uptrend. Then the market went for a second pullback on the resistance line as you see on the chart with small green candles having small wicks and small bodies and it (market) went back down once again to test the vwap 3rd pullback before starting to rise again.
However, for our analysis next week, if we have a pullback (4th) on the vwap indicator and additionally if the resistance line is forcefully broken by a large green candle and followed by large green volume it will guess that we would have a continuation of the uptrend. On the other hand, there could be a reversal of the trend if the vwap indicator as well as the support line are forcefully broken by a large red candle and accompanied by a large red volume.
Thanks for your attention!
Good weekend for all
God bless.......
Yesterday, September 02 at 2:00 p.m. we had a 1st pullback on the vwap indicator, thus causing an impulse on the candles and volume, hence an uptrend. Then the market went for a second pullback on the resistance line as you see on the chart with small green candles having small wicks and small bodies and it (market) went back down once again to test the vwap 3rd pullback before starting to rise again.
However, for our analysis next week, if we have a pullback (4th) on the vwap indicator and additionally if the resistance line is forcefully broken by a large green candle and followed by large green volume it will guess that we would have a continuation of the uptrend. On the other hand, there could be a reversal of the trend if the vwap indicator as well as the support line are forcefully broken by a large red candle and accompanied by a large red volume.
Thanks for your attention!
Good weekend for all
God bless.......
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