On the 4h, we got a false breakout from a key resistance area, and as a result, the market printed a evening star (bearish) pattern.
To avoid getting closed out by this 4h pattern, we can wait for the price to push and close above the 'buy above' area before entering into any buy position (this is the safest option).
The more aggressive approach would be to...
The US100 is currently in a range as we are testing a potential monthly retest level.
I'm waiting to see the market break above or below the range before continuing outside the box or reversing back into the range.
The signal is neutral for now, but we should see movement later on today or during the course of the week.
This analysis is based on current market behavior. We are seeing a test of a key 1h support.
If we break and close below this level, this will be a confirmation signal that bearish sentiment still exists in the market.
How I will look to trade this is by waiting for a retest of this key area and shorting the market till we get to prices lower, possibly holding...
