Analyze of MATIC. Ok my dear followers: Here's the explanation of why the trade I analyzed was very well made it and indeed had a lot of potential but unfortunately we missed it đ. Of course I take other things in consideration like liquidity smart money, etc. Iâm trying to keep it simple to you to understand in the future Iâll explain every detail âđ».
4-Hour Timeframe: In the first image, we observe that the market underwent a price correction (hence the drop). After this decline, we see that it initiated a new market cycle or simply a new impulse on the 1-day timeframe. That's why it formed a Higher High (HH) and a new Higher Low (HL), and then retraced again before starting an upward move, which I analyzed and can be found in my profile for better understanding. What I anticipate is for it to make a new HH and then a new HL.
1-Hour Timeframe: In the second image, we can observe the market structure (HH and HL) in more detail. You can see a part that looks like a box within the candles. That is a complex retracement, and many people fall into the deception of selling when they see this. I will teach you more about this in a couple of weeks; for now, let's adapt and learn. In the chart, you can see that I wanted to make a reentry, but I was busy and didn't get to my zone, so I let it pass.
1-Day Timeframe: In the third image, I removed everything related to HH and HL and the other notes on the chart, and you may wonder why. Remember when I mentioned that a new market cycle had started? And that the downward move was just a correction? In 4H, 1H, 15M, 5M (possibly a complete market cycle in 5M and 15M, and in 1D, it's just a retracement), this is due to fractality, which I will explain later. Enough information for today; I don't want to overwhelm you. My big question is, do you see the market as bearish on the 1D timeframe? Good night. $MATIC . #Write2Earn⏠#TrendigTopic
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