H4 : After three successive failures to breakout the Mid Bollinger Band, current ongoing candle
is trying again to upside breakout MBB.
Important to note that MBB coincides also roughly with the secondary downtrend line resistance.
Therefore, a breakout of that area, on a closing period basis, would be the first positive signal for
further upside in opening the door for higher levels towards 51530 (D1 pivot level) ahead of 51599
Kijun-Sen (H4).
Nevertheless, the battle will not be finished yet because above KS there is still the clouds resistance
zone to break and currently it is very thick !!!
On the downside, a failure to close and hold above MBB and downtrend trend line resistance would
trigger further selling pressure putting the focus on KS @ 49754, ahead of previous candle low @ 48000
Below nothing until 47000 and 47000-45000 looks very fragile.
Watch carefully shorter time frames to get early validation or invalidation signal (s).
Have a nice afternoon and have fun :-)
is trying again to upside breakout MBB.
Important to note that MBB coincides also roughly with the secondary downtrend line resistance.
Therefore, a breakout of that area, on a closing period basis, would be the first positive signal for
further upside in opening the door for higher levels towards 51530 (D1 pivot level) ahead of 51599
Kijun-Sen (H4).
Nevertheless, the battle will not be finished yet because above KS there is still the clouds resistance
zone to break and currently it is very thick !!!
On the downside, a failure to close and hold above MBB and downtrend trend line resistance would
trigger further selling pressure putting the focus on KS @ 49754, ahead of previous candle low @ 48000
Below nothing until 47000 and 47000-45000 looks very fragile.
Watch carefully shorter time frames to get early validation or invalidation signal (s).
Have a nice afternoon and have fun :-)
