Socahollic

Socahollic

Price is in a sell position for on the Monthly and Weekly time frame. Price is also forming a W formation on the H4. If price buys past resistance zone 1 then it should continue buying until resistance zone 2 around (1.25959) and then sell back down to between support zone 1 and 2. Price could also sell around resistance zone 1 (1.24714).

Socahollic

Price is above the top Bollinger Bands on the weekly and daily time frames so price eventually does have to sell. Currently price is making a W formation on the H4 time frame and is buying just under the middle Bollinger Band on the H1 time frame. If price buys above the middle Bollinger Band on the H1 time then price could continue to buy to resistance zone 1 and...

Socahollic

Price may buy to resistance zone 1, which is also the middle Bollinger band and then pull back possibly to support zone 1 on the daily time frame. There is a W formation which indicates trend reversal which is why I believe price will eventually buy passed resistance zone 1 and then hit resistance zone 2. Price may also just break through resistance zone 1 with no...

Socahollic

Price is at the tip of a down trend and a small retracement. Price could buy to break resistance for a reversal or could break trend line to sell to support. Because price is also just above the bottom Bollinger Band on the 1 day time frame, I believe price will buy to test resistance.