W/e analysis;
* > 13wk awr Wkly candle closes as a multi-engulf x 2 bullish thrust candle - engulfing the 2 x immediately previous candle bodies on that t/f, after breaching Wkly R3 to the upside. Price also breached the 3434~2811 descending t/line on this t/f to the upside, and closes above it. The current yrly lo, (2100,) becomes a fractal swing LL on this t/f now in it's probable classic downtrend/move from 3434, (last yr's hi.)
* Fri's > 30day adr big bullish thrust Dly candle was an upside follow-thru on the previous day's bullish engulf candle on this t/f, and breached Dly R3 to the upside, and closed the day above it. The t/f's general downtrend is under pressure now,? with what are now 2 x HL's (2160, 2293,) and what will be a HH @ Fri's / this wk's 2502 hi, or higher, when it forms fractally, particularly as this hi breached the descending channel on the t/f, to the upside.
* 4Hr closes the week (like 1Hr,) in a general uptrend, and it's last but one candle close (on the gmt+2hr price feed) was a big bullish thrust-type candle that engulfed the previous's body. The last candle close on this t/f was a small range bearish candle, creating a fractal swing HH @ the 2602 day's/wk's hi.
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* Also, Price closes the week still below the Mthly Pivot (@/around 2599, and also still below the Yrly Pivot (@/around 2749,) but now above the Midpoint between that and Yrly S1 (@/around 2063,) which is @/around 2406. Price also closes the week out above last mth's 2475 lo, and above the 50% of the major 2811-2100 move, 61.8% of which is @ 2540. Next fib retrace of the main 3434-2100 move is the 38.2% of it @ @ 2609. A whole trading week to go till Month end, and so far the Mthly candle is looking like a pinbar, but anything can happen and this will likely change by the time it closes.
(NB: Market t/f conditions per fractal swing analysis.)
EDIT: just added a prev sw hi zone that I had missed, on 4hr chart.
Wkly, Dly, then 4Hr, below.
* > 13wk awr Wkly candle closes as a multi-engulf x 2 bullish thrust candle - engulfing the 2 x immediately previous candle bodies on that t/f, after breaching Wkly R3 to the upside. Price also breached the 3434~2811 descending t/line on this t/f to the upside, and closes above it. The current yrly lo, (2100,) becomes a fractal swing LL on this t/f now in it's probable classic downtrend/move from 3434, (last yr's hi.)
* Fri's > 30day adr big bullish thrust Dly candle was an upside follow-thru on the previous day's bullish engulf candle on this t/f, and breached Dly R3 to the upside, and closed the day above it. The t/f's general downtrend is under pressure now,? with what are now 2 x HL's (2160, 2293,) and what will be a HH @ Fri's / this wk's 2502 hi, or higher, when it forms fractally, particularly as this hi breached the descending channel on the t/f, to the upside.
* 4Hr closes the week (like 1Hr,) in a general uptrend, and it's last but one candle close (on the gmt+2hr price feed) was a big bullish thrust-type candle that engulfed the previous's body. The last candle close on this t/f was a small range bearish candle, creating a fractal swing HH @ the 2602 day's/wk's hi.
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* Also, Price closes the week still below the Mthly Pivot (@/around 2599, and also still below the Yrly Pivot (@/around 2749,) but now above the Midpoint between that and Yrly S1 (@/around 2063,) which is @/around 2406. Price also closes the week out above last mth's 2475 lo, and above the 50% of the major 2811-2100 move, 61.8% of which is @ 2540. Next fib retrace of the main 3434-2100 move is the 38.2% of it @ @ 2609. A whole trading week to go till Month end, and so far the Mthly candle is looking like a pinbar, but anything can happen and this will likely change by the time it closes.
(NB: Market t/f conditions per fractal swing analysis.)
EDIT: just added a prev sw hi zone that I had missed, on 4hr chart.
Wkly, Dly, then 4Hr, below.
Attached Image(s) (click to enlarge)
Trader with an Edge.
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