White Energy in 3h TRYING to Move Up in New 3 Hour Candle.

If the White Energy in the 3h TF manages to continue going up, this will give the Red RSI in the 6h MORE TIME to continue going up and CLOSING at or above 56 percent BEFORE the White Energy in the 3 hour can make it down to the 50% level. Which means we would then IGNORE the White Energy in the 3 hour and focus on the White Energy in the 6 hour WHILE ALSO FOCUSING our attention to the Red RSI in the 12 hour to see if the Red RSI in the 12h can CLOSE at or above 56 percent BEFORE the White Energy in the 6h can cross BELOW 50 percent. FOR NOW... This is looking promising to make it up to the BASIS of the Bollinger Band in the Weekly at $7,820.

Kommentar:

Upward pressure continues for now. See notes in the 6h and 12h time frames below:

Kommentar:

$5,810 to $5,925 is POSSIBLE price range to come down to. Keep in mind the Red RSI in the 12h never made it up to 56 percent or higher. It did not even make it to 50 percent. Which means the moment the White Energy in the 6h crossed below the 50% level, we were likely to see downward pressure for a while once again. This also means you start over once again with the Red RSI and White Energy in the 90 minute and 180 minute time frames.

Here is the 6h and 12h time frames:

Here is the 90 minute (left) and 180 minute (right) time frames: Note how the Red RSI in the 90 minute just went below 44 percent level but has not CLOSED below 44 percent level just yet. If the Red RSI in the 90 minute manages to close at or below 44 percent, we do not stand a chance for reversal to upward pressure until the White Energy in the 90 minute crosses ABOVE 50%. Also keep a close eye on the Red RSI in the 180 minute time frame. If the Red RSI in the 180 minute time frame manages to CLOSE at or below the 44 percent level BEFORE the White Energy in the 90 minute crosses above the 50 percent level, you then ignore the White Energy in the 90 minute and focus on the White Energy in the 180 minute. This also means you would bring the 360 minute (6h) time frame into play by observing the Red RSI in the 360 minute (6h) to see if it can CLOSE at or below 44 percent BEFORE the White Energy in the 180 minute (3h) crosses above 50 percent.

Kommentar:

Red RSI in the 3h (180m) TF has CLOSED at or below 44 percent BEFORE the White Energy in the 1.5h (90m) TF crossed above 50 percent. Which results in two (2) things.

#1 - Downward pressure continues.
#2 - We now change our focus from White Energy in 90 minute (1.5h) and Red RSI in 180 minute (3h) TO the White Energy in the 180 minute (3h) and Red RSI in the 360 minute (6h). We are now watching to see if the Red RSI in the 6h can CLOSE at or below the 44 percent level BEFORE the White Energy in the 3h can CLOSE "above" 50 percent level.

90 minute (left); 180 minute (Center); 360 minute (Right):

Kommentar:

IF the White Energy in the 180 minute (3h) manages to CLOSE "above" 50 percent BEFORE the Red RSI in the 360 minute (6h) CLOSES "below" 44 percent, we will have a CHANCE for a decent move to the upside. However, it does not mean we will have a decent move to the upside. It COULD simply be a period of sideways price action within a relatively tight trading range until the White Energy and Red RSI in a much higher time frame indicates a more clear signal of a better chance of a decent move up or down.

Kommentar:

Weekly with indicators:

Weekly without indicators: