Key Observations:
Demand Zones:
Yellow Zone (Demand H1): This area represents a short-term demand zone where price has previously reversed upwards.
Green Zone (Demand H4): This is a stronger demand zone from the 4-hour timeframe, indicating a higher likelihood of a bullish response if the price revisits this area.
Price Action:
The price shows a series of lower highs and lower lows, indicating a prior bearish trend.
A recent reversal from the yellow demand zone suggests some bullish momentum.
Potential Targets:
Two arrows pointing upwards indicate potential target areas around 2.16095, which may act as resistance.
Market Structure:
The downward red arrows mark previous bearish waves.
The upward move from the demand zone may signify a corrective or new bullish phase.
Analysis:
Bullish Outlook:
If the price sustains above the yellow demand zone, it could aim for the marked resistance level at 2.16095. A break above this level could signal further upside.
Demand Zones:
Yellow Zone (Demand H1): This area represents a short-term demand zone where price has previously reversed upwards.
Green Zone (Demand H4): This is a stronger demand zone from the 4-hour timeframe, indicating a higher likelihood of a bullish response if the price revisits this area.
Price Action:
The price shows a series of lower highs and lower lows, indicating a prior bearish trend.
A recent reversal from the yellow demand zone suggests some bullish momentum.
Potential Targets:
Two arrows pointing upwards indicate potential target areas around 2.16095, which may act as resistance.
Market Structure:
The downward red arrows mark previous bearish waves.
The upward move from the demand zone may signify a corrective or new bullish phase.
Analysis:
Bullish Outlook:
If the price sustains above the yellow demand zone, it could aim for the marked resistance level at 2.16095. A break above this level could signal further upside.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.