TRX - MMXM - weekly rejection into expansion?
Long-term Perspective:
previous week candle shows clean rejection which shifts the draw on liquidity to the downside.
Previous Swinghigh shows a CHoCH Pattern. With this information in mind price coul start an expansion down IF price creates a lower high here. Weekly Open is THE level now for my Bias
Intermediate-term Perspective:
hourly shows sign of distribution by printing lower high distribution price action. prettcy difficult to get an precise entry here which why I suggest to enter based on invalidation. The Invalidation should be previous weekly high.
Once price breaks through that grey pivotal S/R area I will look for continuation trades towards the Draw on Liquidity (DOL)
previous week candle shows clean rejection which shifts the draw on liquidity to the downside.
Previous Swinghigh shows a CHoCH Pattern. With this information in mind price coul start an expansion down IF price creates a lower high here. Weekly Open is THE level now for my Bias
Intermediate-term Perspective:
hourly shows sign of distribution by printing lower high distribution price action. prettcy difficult to get an precise entry here which why I suggest to enter based on invalidation. The Invalidation should be previous weekly high.
Once price breaks through that grey pivotal S/R area I will look for continuation trades towards the Draw on Liquidity (DOL)
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