Shortterm oversold ?
Hi guys,
we saw a sell off the recent hours due to Powells Fed speech yesterday and the ECB interest rates increase.
The question is if we are oversold, and if so, how the price will react in the next 24 hrs. I expect the price to go down to the trendline, breaks it, drops till 3869 or 3856 and shoots back up again, so that 4 hr candle closes in the Trendline again. In that scenario, a lot of liquidity would've grabbed. I expect a midterm reaction to this TL, maybe a descending Flag with final break through the downside. If Trendline breaks with high volume , the price will drop real quick due to SL and TP.
If you liked this one, please leave a like- so that i can get reputation- and can participate in chat :) Thanks.
-NFA-
we saw a sell off the recent hours due to Powells Fed speech yesterday and the ECB interest rates increase.
The question is if we are oversold, and if so, how the price will react in the next 24 hrs. I expect the price to go down to the trendline, breaks it, drops till 3869 or 3856 and shoots back up again, so that 4 hr candle closes in the Trendline again. In that scenario, a lot of liquidity would've grabbed. I expect a midterm reaction to this TL, maybe a descending Flag with final break through the downside. If Trendline breaks with high volume , the price will drop real quick due to SL and TP.
If you liked this one, please leave a like- so that i can get reputation- and can participate in chat :) Thanks.
-NFA-
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