Trend analysis and entry point
The bottom yellow line is the weekly trend which is showing overall is bullish.
Now the big impulsive down candle on H4 maybe trigger an entry point, lets wait till this candle is closed,
there will be two scenarios
1. it this candle closes above the H4 trend line, we will wait till monday to watch a bit consolidate for the buying entry.
2. if this candle closes below the H4 trend line, we will watch for retracement either sideways or retest the trendline.
I will keep it updated for the trade.
Anyway, please remember, the overall trend is bullish only if the weekly trendline is broken.
Now the big impulsive down candle on H4 maybe trigger an entry point, lets wait till this candle is closed,
there will be two scenarios
1. it this candle closes above the H4 trend line, we will wait till monday to watch a bit consolidate for the buying entry.
2. if this candle closes below the H4 trend line, we will watch for retracement either sideways or retest the trendline.
I will keep it updated for the trade.
Anyway, please remember, the overall trend is bullish only if the weekly trendline is broken.
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