- Strong Zone of Resistance formed and rejected off of multiple times - Trend Line Opportunity - Ascending Triangle Price Pattern Opportunity
Trade is in the direction of the Daily Trend
TP is below the current Daily Lower Low
The expectation is for price to make a NEW Lower Low on the Daily (Trend) timeframe
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Nice Impulse down just now. - Break of Descending 1H and 2H Triangle - Break of 1H Line Chart Support
4H break of Diagonal Support (Trend Line) possibly en route
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- 4H Candle close JUST NOW confirms broken 4H Trend Line. - Today’s candle could print a bearish engulfing on the Daily timeframe. - 2H line chart structure confirms downtrend price action. Lower High Created and Lower Low created - Price is back into trend structure (Daily & Bearish) - Expectation is for price to make a new Lower Low on the Daily Trend Structure
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H4/Daily Zone respected, Stop Loss above the zone still in tact.
Nice bearish impulse just now on H4 through H1.
Price is now stalling a bit, where there was an inverse head & shoulders to the left on H4->H1. But the clues are still pointing to the downside.