H4 : Mid Bollinger Band continue to perform very well as the leading indicator and worked once again perfectly well in rejecting a downside breakout attempt seen on the last H4 candle. As long as we stay and hold on H4 closing basis above MBB it is OK; however, a failure to do it would open a new trading range with its next support around the 58000 area (Kinjun-Sen or Base Line @ 58025 and also the middle level of the ongoing uptrend channel. 61.8 % Fib ret @ 57597 For scenarios, pls see my previous D1 analysis
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.