Price has broken out of the Descending Channel and is currently forming a potential HH formation. According to H4 Fib Short setup, price will likely push higher back into the 1.23 Institutional level which has confluence with the 4H Resistance and H4 Fib 62 level. I'll be waiting for price to show clearer indication of direction before looking for a setup.
Bias = Overall Bearish, temporary Bullish to Fib short region
Structure = Corrective
Setup = Yes, need more confirmation on Lower TF.
Bias = Overall Bearish, temporary Bullish to Fib short region
Structure = Corrective
Setup = Yes, need more confirmation on Lower TF.
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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.