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Friday, November 12, 2021

US30USD top-down analysis

US30USD top-down analysis


Hello Traders, before I continue, drop down any comments on what you think.

Weekly Overview: Price is on an Ascending Channel with swing high and lows in a corrective stage. Price hasn't yet completed the correction which means price hasn't yet broken outside the structure for a newer correction continuation.

Daily Overview: Price is making another Ascending Channel within the weekly channel. Price is in a bearish correction phase to the downside. Price action is making a symmetrical expanding triangle.

Four hourly Overview: Price action is in a Descending impulsive Channel to the downside. Price broke the previous Ascending Channel which means price completed the correction with a reversal.

One Hourly Overview: Price is in a smaller Ascending Channel correction within the four hourly channel. Is price in a bearish corrective phase? Or is price still in a bullish impulse move to the upside? Waiting for price to break and create another smaller correction on the LTF to the downside.

from TradingView Ideas
via gqrds

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