In 4H, we can see the way price move back up is relatively corrective to the way it moved down. Price take out the previous high and retrace immediately with 2 large wicks to upside indicating bearish pressure kicking in.
If price shows a respect to the wick (internal 4H high), we may start to look for trade idea of short in MTF (1H, 15m, 5m)
If price shows a respect to the wick (internal 4H high), we may start to look for trade idea of short in MTF (1H, 15m, 5m)
Comment:
1H view:
