as we see price is currently at an area showing major support as well as being under the 50 moving average (hinting at a sellers market).
what i would do in this situation is wait for price to show us any movement to the upside to create a right shoulder either at the 50 moving average or at the resistance area i have marked then drop for correction for all the...
the zones i have made represent support and resistance.
*if price breaks the support zone i would sell until 61% or 50% retracement levels
*if price breaks resistance i would wait for retest before buying with a 20 pip TP since its at a high point
my bias is that GJ will break my zone levels, retest within the zone, and break out below to create new lows on higher time frames thru the London and New York sessions because markets have been choppy lately.
the lines show my directional bias
price is currently at support and pushed up, i believe if price bounce down from i have the resistance levels we should be able to sell to my 4 hour support zone
*LINES SHOW MY DIRECTIONAL BIAS*
