Today I will analyze the asset on several time frames (1M, 1W, 1D, 4H) to find out where it is advisable to buy and where it is advisable to sell.
On the monthly timeframe, there is a bearish trend. The last bearish impulse started from the price of 1.25557. The price has touched the 50% level (1.10458) of the last bearish impulse several times. So far, I don't see a good resumption of the seller.
On the weekly timeframe, the price has formed a sideways range around the 1.10458 level (50% of the monthly bearish impulse). The bearish vector 5-6 has met the mandatory target (see the related idea for more details). Currently, the relevant buyer's vector is 6-7 with a potential target of 1.11393.
On the daily timeframe, there is a bearish trend. The last bearish impulse started from the price of 1.09812. The price has consolidated above the 50% level of the last bearish impulse (1.07912). So far, we haven't seen a resumption of the seller.
On the 4-hour timeframe, there is a bullish trend. The last buyer's impulse started from the price of 1.08129. The price dropped into the discount zone (below the 50% level of the last impulse - 1.08539). The buyer showed a good resumption (result, spread, volume) from the key candle of the impulse (marked "KC" on the chart).
Thus, on the monthly and daily timeframes, there is a bearish trend, with the price on both timeframes corrected to the 50% level, and no strong seller is observed at these levels. On the weekly timeframe, there is a sideways range with the relevant buyer's vector, and on the 4-hour timeframe, there is a buyer's trend. Based on this, in my opinion, it is now more appropriate to look for buying opportunities.
To understand where to look for buying opportunities, let's consider the lower timeframes: 90M, 15M, 3M.
On the 90-minute timeframe, the price has formed a sideways range. The mandatory target of the seller's vector 6-7 has been reached. The relevant buyer's vector is 7-8 with a potential target of 1.08785. The lower boundary of the sideways range is 1.08356. The upper boundary of the sideways range is 1.08828.
On the 15-minute timeframe, there is a bullish trend. The last buyer's impulse started from the price of 1.0846. The price has not yet interacted with the 50% level of the impulse (1.08623). At the base of the impulse, a buyer's zone has formed (blue rectangle on the chart) with the upper boundary at 1.08564.
On the 3-minute timeframe, the price has formed a sideways range. The seller's vector 9-10 has reached the mandatory target and touched the lower boundary of the sideways range at 1.08651 (point 6 of the sideways range). Below 1.08651, I assume there is seller's liquidity that the buyer might collect. Meanwhile, the 50% level of the buyer's impulse on the 15-minute timeframe is slightly lower - 1.08623.
It is appropriate to look for buying opportunities:
It is appropriate to look for selling opportunities:
On the monthly timeframe, there is a bearish trend. The last bearish impulse started from the price of 1.25557. The price has touched the 50% level (1.10458) of the last bearish impulse several times. So far, I don't see a good resumption of the seller.
On the weekly timeframe, the price has formed a sideways range around the 1.10458 level (50% of the monthly bearish impulse). The bearish vector 5-6 has met the mandatory target (see the related idea for more details). Currently, the relevant buyer's vector is 6-7 with a potential target of 1.11393.
On the daily timeframe, there is a bearish trend. The last bearish impulse started from the price of 1.09812. The price has consolidated above the 50% level of the last bearish impulse (1.07912). So far, we haven't seen a resumption of the seller.
On the 4-hour timeframe, there is a bullish trend. The last buyer's impulse started from the price of 1.08129. The price dropped into the discount zone (below the 50% level of the last impulse - 1.08539). The buyer showed a good resumption (result, spread, volume) from the key candle of the impulse (marked "KC" on the chart).
Thus, on the monthly and daily timeframes, there is a bearish trend, with the price on both timeframes corrected to the 50% level, and no strong seller is observed at these levels. On the weekly timeframe, there is a sideways range with the relevant buyer's vector, and on the 4-hour timeframe, there is a buyer's trend. Based on this, in my opinion, it is now more appropriate to look for buying opportunities.
To understand where to look for buying opportunities, let's consider the lower timeframes: 90M, 15M, 3M.
On the 90-minute timeframe, the price has formed a sideways range. The mandatory target of the seller's vector 6-7 has been reached. The relevant buyer's vector is 7-8 with a potential target of 1.08785. The lower boundary of the sideways range is 1.08356. The upper boundary of the sideways range is 1.08828.
On the 15-minute timeframe, there is a bullish trend. The last buyer's impulse started from the price of 1.0846. The price has not yet interacted with the 50% level of the impulse (1.08623). At the base of the impulse, a buyer's zone has formed (blue rectangle on the chart) with the upper boundary at 1.08564.
On the 3-minute timeframe, the price has formed a sideways range. The seller's vector 9-10 has reached the mandatory target and touched the lower boundary of the sideways range at 1.08651 (point 6 of the sideways range). Below 1.08651, I assume there is seller's liquidity that the buyer might collect. Meanwhile, the 50% level of the buyer's impulse on the 15-minute timeframe is slightly lower - 1.08623.
It is appropriate to look for buying opportunities:
- On the 4-hour timeframe from the buyer's defense of 1.08129.
- On the 90-minute timeframe from the buyer's defense of 1.08356.
- On the 15-minute timeframe from the buyer's defense of 1.08623 or from the resumption of the buyer from the zone (1.0846 - 1.08564).
- On the 3-minute timeframe from the buyer's defense of 1.08651.
It is appropriate to look for selling opportunities:
- On the daily timeframe from the levels of 1.09425 or 1.09812.
- On the weekly timeframe from the level of 1.11393.
Good luck with your trading!
