Update:
was actually looking for a long yesterday but price has continued to show a bearish bias, making lower lows and lower highs. we also have seen a break down of crucial support (purple and grey line).
seeing this push to the downside my next move would be to wait for a bearish retest and look for a short down to any of my lower targets, we have seen a couple wicks below this level before but the grey line has been a solid level of support with the purple line being the bullish scenario. testing this support is showing its weakness so I don't really expect price to break back up at leats until a retracement of some sort is going to take place.
I would look at the smaller timeframes for a short opp and wait for a clear bounce because we are still in an important level and price could break back into this formation leaving a lot of room to the upside for a recovery.
was actually looking for a long yesterday but price has continued to show a bearish bias, making lower lows and lower highs. we also have seen a break down of crucial support (purple and grey line).
seeing this push to the downside my next move would be to wait for a bearish retest and look for a short down to any of my lower targets, we have seen a couple wicks below this level before but the grey line has been a solid level of support with the purple line being the bullish scenario. testing this support is showing its weakness so I don't really expect price to break back up at leats until a retracement of some sort is going to take place.
I would look at the smaller timeframes for a short opp and wait for a clear bounce because we are still in an important level and price could break back into this formation leaving a lot of room to the upside for a recovery.
