HiveComb

We'll also be analyzing the week candle since it's gonna be closed soon. The price action of the week candle will depend on whether the week candle is able to close above its own resistance or will pullback to close below that resistance at 2935.49. If it's able to close above, indicating a successful break of resistance which means its ready to push further and create a new high, or may press down first to clear buy volumes from retail traders follow buying. But if it is unable to successfully break that resistance, it may move in a consolidation phase for a long time before choosing a direction to move towards.

The daily high wick is at 3,004.94 which is also the new all time high before it starts pullback and pressing down. Though the 4 hour timeframe has already created a successful reversal by closing above the previous candle's wick and complete reversal by a new candle pressing down crossing support and closing below support, indicating that the support has been broken. But that is only in the 4 hour timeframe, not in the daily timeframe, at least until it manage to break its own support at 2,933.84. So now it's in a temporary downtrend in the 4 hour candle at least until before it touches the daily support because if it is only pressing down clearing buy volumes before pushing back up, it will only drop down until before touching major support and then do another reversal to push the price back up. But if the trend is really changing, it should at least break the daily support by crossing and closing below the support. So the whole big trend now is still up because the chart hasn't shown a reversal in the higher timeframe.

Here's a picture of the 4 hour timeframe for you guys to refer to, and I've marked and noted down the possible price action at each spot in the chart, and if you're able to understand, good for you since you'll be able to start understand how the market works and start being able to profit consistently from understanding the psychology of the market and knowing when to and not to place an order because a majority of people may be waiting to place an order at that specific spot waiting to get their stop loss sweep. So we'll stop being the first prey to be hunt, at least be the last prey to be hunted down, if we're gonna lose, we gonna have to be the last one to lose the whole game.