1D shows trending within a channel, 4H shows that we have been making higher highs and lower lows indicating an up-trend.
Price closed on the back of bullish impulse, however wick candle on 4H indicates slow of momentum, potential for bullish reversal.
Confluence of this with the close being close to the previous major resistance level (double top), high probability for price to fall from this.
Looking for resistance of major level, pull back to re-test the previous break of resistance, and then continuation to the upside.
Price closed on the back of bullish impulse, however wick candle on 4H indicates slow of momentum, potential for bullish reversal.
Confluence of this with the close being close to the previous major resistance level (double top), high probability for price to fall from this.
Looking for resistance of major level, pull back to re-test the previous break of resistance, and then continuation to the upside.
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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.