Given the multitude of the wick rejection on the 4hr timeframe, the consistent downtrend on the weekly and how price is returning to the key area, I am still bearish on price. I will be looking for any significant signs of rejection off the key area on the 15min timeframe, in which I will be going short.
Price is doing its "drop, base, drop" motion.
Should price break and close above the blue line strongly on the 1hr/4hr, I will be looking to go long as this would be a market shift.
Price is doing its "drop, base, drop" motion.
Should price break and close above the blue line strongly on the 1hr/4hr, I will be looking to go long as this would be a market shift.
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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.