📊 Market Analysis:Pengu coin, Looks Good (Pt 4c)
🧭 Observations
Weekly Chart
📊 Market is trading at the top of the previous weekly hammer.
⏫ Within a day, price has reached the upper tail of the hammer.
Three-Day Chart
⚠️ Rejection zone noted near the close of a previous three-day candle, signaling potential resistance.
Daily Timeframe
10-day Lookback:
A strong inverted hammer indicates this level could act as a supply zone.
📈 Stochastic Oscillator:
Currently in the overbought zone, hinting at a potential price shift.
🔎 Candle Close:
If today’s candle closes as another hammer, it may confirm rejection.
4-Hour Timeframe
🕒 Weakness Detected:
The 4H chart shows signs of slowing momentum.
📉 Stochastic is in the oversold zone, suggesting a potential reversal or stabilization.
⚡ Actions
🔄 Monitor Lower Timeframes:
Focus on 8H, 6H, and 4H charts to anticipate how the daily candle may close.
📌 Stay Alert:
Look for confirmation of rejection before acting.
✅ Takeaways
1. 🔄 Mixed Signals:
Weekly and daily suggest resistance, while the 4-hour chart hints at possible stabilization.
2. 🕵️ Patience is Key:
No confirmed direction yet.
3. 📖 Guided Action:
Updates will be shared in Time to Act Pt 2c for possible entry decisions.
📢 Stay Informed, Stay Ahead!
📤 Share this with your network!
👍 Like for more insights.
🔔 Follow us for timely updates.
💬 Comment Below to join the discussion
“Do not think that what your thought dwells on does not matter; your thoughts are making you.” — Bishop Steve
