Looks like exhaustive buying on 4 hour
Reason:
4 hour chart shows what looks like exhaustive buying as price looks like it is leaning over and could not break the prior swing high.
Strategy:
Rally up could be protected by 0.638. Stop will be placed beyond this price level.
Top of descending channel would coincide with approximately 705 fib retrace.
4 hour chart shows what looks like exhaustive buying as price looks like it is leaning over and could not break the prior swing high.
Strategy:
Rally up could be protected by 0.638. Stop will be placed beyond this price level.
Top of descending channel would coincide with approximately 705 fib retrace.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.