Weekly: We are in a bullish weekly channel. The last high hit the overall supply zone and the last low hit the demand zone forming a HH and HL channel. The weekly bias is bullish and the last weekly candle has been a huge bullish engulfing.
Daily: We are in a bearish daily channel. The last low was a -61.8 reversal zone which indicating a change in structure and the market has been bullish for 4 days since then. Now it has reached the supply zone for one of the previous highs and has been consolidating around this zone. The overall bias is bullish, but I believe we should have a bearish reversal because it has been bullish for almost a week and hasn’t formed any type of bullish structure yet.
H4: We just hit a -61.8 reversal zone, and a supply zone, with divergence which is a strong indication of a reversal. We have formed a little bit of structure in the consolidation zone and formed a little HL pattern at the 78.6 retracement zone, so I am expecting it to go down to the -61.8 reversal zone before continuing the bullish structure. The overall bias is bullish.
H1: On the bullish pattern from the previous break of structure market wicked the 38.2 which means that it should do a continuation towards the -27 reversal zone. But because of the reversal confluences market has been consolidating around this point. Overall Bias is bullish.
Daily: We are in a bearish daily channel. The last low was a -61.8 reversal zone which indicating a change in structure and the market has been bullish for 4 days since then. Now it has reached the supply zone for one of the previous highs and has been consolidating around this zone. The overall bias is bullish, but I believe we should have a bearish reversal because it has been bullish for almost a week and hasn’t formed any type of bullish structure yet.
H4: We just hit a -61.8 reversal zone, and a supply zone, with divergence which is a strong indication of a reversal. We have formed a little bit of structure in the consolidation zone and formed a little HL pattern at the 78.6 retracement zone, so I am expecting it to go down to the -61.8 reversal zone before continuing the bullish structure. The overall bias is bullish.
H1: On the bullish pattern from the previous break of structure market wicked the 38.2 which means that it should do a continuation towards the -27 reversal zone. But because of the reversal confluences market has been consolidating around this point. Overall Bias is bullish.