As you can currently see from the screenshot, the current candle session is still ongoing, still not showing us properly what sort of direction the current market conditions are looking to head.
ZONE 1, is what I would consider my 'Consolidation Area' and the current candle session has broken out of that area. This is of no significance to me at the moment as it does not tell us whether this is a trendline breakout/continuation, or if it's just another false breakout.
I am waiting to see if the candle closes above 'ZONE 1' or if it's going to retrace back below the trendline and respect it like it has done multiple times now already.
The TWO green circles represent where the bears have managed to drop the market level down too. Since then they have not managed to put up much of a fight as the bulls seem to be taking the market level back up to where we all want it to go.
If we do get a TRUE trendline breakout, then I will definitely be looking for it to make its way to ZONE 2.
ZONE 1, is what I would consider my 'Consolidation Area' and the current candle session has broken out of that area. This is of no significance to me at the moment as it does not tell us whether this is a trendline breakout/continuation, or if it's just another false breakout.
I am waiting to see if the candle closes above 'ZONE 1' or if it's going to retrace back below the trendline and respect it like it has done multiple times now already.
The TWO green circles represent where the bears have managed to drop the market level down too. Since then they have not managed to put up much of a fight as the bulls seem to be taking the market level back up to where we all want it to go.
If we do get a TRUE trendline breakout, then I will definitely be looking for it to make its way to ZONE 2.