We are getting some resistance here at the yellow EMA
(50-period on the 4H). I would look to get over this hurdle first before entering. It would be an interesting trade to enter at the breakout past the yellow 50-period EMA
and sell at the red 200-period EMA
. Then after that trade, you could wait to see if it's able to make it beyond the red 200-period EMA
. If so, maybe go long. If not, short or wait for it to return to the 50-period yellow EMA
or lower. This is a fun one guys, much more fun to trade than stocks! It's so continuous and is very suitable for trading with technicals. Good luck my fellow traders.