Daily divergence observed from both the RSI and volume oscillator as mentioned in my previous post.
4H Update:
- Black line was the range low.
- Pink line was the swing low.
- Price nuke below the swing low and managed to close above. This shows that those breakout shorters are trapped.
1H Update: We are not totally save yet.
Key levels:
1) 104.66 - Previously we did not have any hourly close below this level, and price is currently trading below it, acting as resistance.
We want to see price quickly reclaimed this level, retest it as support, that will prove to us all the price action below that level
was a diversion.
2) 2HR Orderblock - Previously acted as support twice, expecting it to act as resistance now.
- Black line was the range low.
- Pink line was the swing low.
- Price nuke below the swing low and managed to close above. This shows that those breakout shorters are trapped.
Key levels:
1) 104.66 - Previously we did not have any hourly close below this level, and price is currently trading below it, acting as resistance.
We want to see price quickly reclaimed this level, retest it as support, that will prove to us all the price action below that level
was a diversion.
2) 2HR Orderblock - Previously acted as support twice, expecting it to act as resistance now.
Comment:
Price nuke range low, could be a diversion, will know soon enough