This week I’m watching BNB closely. Here is my higher-timeframe story and the conditions I’m waiting for before taking a trade.” 👍😀👇
Weekly:
After the strong sell-off, sellers failed to make a new weekly low. Buyers responded and a weekly pullback phase may be developing.
Daily:
A bullish engulfing candle formed after several failed attempts by sellers to continue lower. Buyers managed to take a new short-term high, but price is still below major EMA resistance.
4H:
607 remains the key level for me. As long as buyers defend this area, I will continue looking for bullish continuation setups.
Entry Plan:
I am not chasing price. I prefer to see a pullback into the 605-607 zone and wait for a bullish 1H engulfing candle before considering a long position.
What proves me right:
Buyers defend 6074H structure continues making higher highsPrice breaks above recent resistance
What proves me wrong:
Buyers lose the 605-607 support zone4H structure breaks down
This is my personal market outlook and trading plan. I will wait for confirmation before entering.
#BNB #BNBUSDT #Crypto #PriceAction #Trading
Weekly:
After the strong sell-off, sellers failed to make a new weekly low. Buyers responded and a weekly pullback phase may be developing.
Daily:
A bullish engulfing candle formed after several failed attempts by sellers to continue lower. Buyers managed to take a new short-term high, but price is still below major EMA resistance.
4H:
607 remains the key level for me. As long as buyers defend this area, I will continue looking for bullish continuation setups.
Entry Plan:
I am not chasing price. I prefer to see a pullback into the 605-607 zone and wait for a bullish 1H engulfing candle before considering a long position.
What proves me right:
Buyers defend 6074H structure continues making higher highsPrice breaks above recent resistance
What proves me wrong:
Buyers lose the 605-607 support zone4H structure breaks down
This is my personal market outlook and trading plan. I will wait for confirmation before entering.
#BNB #BNBUSDT #Crypto #PriceAction #Trading
