Bar by Bar Trading Day Analysis

Hey traders!

Prices stayed within a range during the overnight and early morning price action. You could see a couple of tests at the range resistance/highs and a test of the range support/lows.

Prices then formed a bigger uptrend structure which broke out to the topside. There weren’t many good possibilities to participate in this movement so we had to be patient today. Prices then broke and retested the uptrend channel and formed another smaller uptrend working higher now.

I analyzed today’s trading day from my point of view and discussed a couple of potential setups.

Hope you had a good trading day and wish you a great weekend!