GJ 1.06 NY Open
Current momentum from 4 hour indicates bullish bias after pulling off of daily/ 4 hour demand zone of 141.25. However, on the 1 hour chart it is easy to see price is already slowing down on its attempt to fill to 142.5 on this impulse from 141.25. Because of this, and because of the previous rejections from this level of 142.35, i will be looking for a bearish engulfing/ failure to break higher at this level. if that is realized and a corrective impulse is imminent, i will zhort with a stop above 142.20, a target of 141.50, producing an appx RR ratio of 1:2.5
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