SAGA - 4H Perfect Buy Opportunity

26 czeSAGA had three bearish legs, each resulting in a 60% price fall, demonstrating a strong downward trend. Within these bearish moves, there were two bullish pullbacks, each with a 60% rise, indicating temporary reversals before the continuation of the downtrend. Currently, SAGA is at the bottom of the latest bearish leg.

Given the pattern, I expect a rise as a pullback to the first resistance zone, which is a typical market behavior after such significant drops. If SAGA manages to break through this resistance zone, it could potentially rise further to the order block of the last bearish leg. This scenario would align with previous patterns of price action, suggesting a short-term bullish move within the overall bearish trend.

28 cze

Komentarz

In the 1H time frame, SAGA is currently consolidating, preparing for its next move. As observed, there isn’t enough momentum for a bearish move. The consolidation phase suggests that the market is finding equilibrium before potentially gearing up for a more significant bullish move. Keep an eye on this pattern, as it could signal the beginning of a breakout once the consolidation phase ends.