We're inside a 4H breaker currently, retesting it as support again, and also a nice fib retracement zone.
If we bounce from here that would also be a higher low and a good bullish sign for further expansion upwards.
If you look below you can see that we bounced from an important daily pivot level too.
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Colors I use for a more organized chart:
15 min - Cyan
1H - Gray
4H - Red
Daily - Green
Weekly - Orange
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Some terms I used:
-Bullish breaker - an orderblock (a green or red candle, in this case green) that preceeded a move that took out a previous swing low, but was later nuked through. If the price comes back to that block, it is expected to act as support.
Original idea by Svarog
If we bounce from here that would also be a higher low and a good bullish sign for further expansion upwards.
If you look below you can see that we bounced from an important daily pivot level too.
---------
Colors I use for a more organized chart:
15 min - Cyan
1H - Gray
4H - Red
Daily - Green
Weekly - Orange
---------
Some terms I used:
-Bullish breaker - an orderblock (a green or red candle, in this case green) that preceeded a move that took out a previous swing low, but was later nuked through. If the price comes back to that block, it is expected to act as support.
Original idea by Svarog
