On the Daily timeframe, price has created a bullish CHOCH to the upside, breaking past the 1.08850 level with a wick candle close. This means that there is a weak change of character, initiating a pullback.
On the 4 HOUR timeframe, price is at a OB so there are 2 scenarios i am looking at.
1) Price rejects off the OB and creates a 15 minute bearish CHOCH for me to look for sells to the 1.07896 level with a body candle close.
2) Price breaks past the 1.08611 with a body candle close. If this happens i am looking for BUYS after a break and retest happens at the failed OB.
On the 4 HOUR timeframe, price is at a OB so there are 2 scenarios i am looking at.
1) Price rejects off the OB and creates a 15 minute bearish CHOCH for me to look for sells to the 1.07896 level with a body candle close.
2) Price breaks past the 1.08611 with a body candle close. If this happens i am looking for BUYS after a break and retest happens at the failed OB.
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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.