Currently seeing the bears take over and break through a zone that has been held by buyers for a while. It looks like the strong bull momentum is shifting and we may see a bear structure setting up IF and only if, the bull structure is CLEARLY broken.
Once broken, we wait for a nice retest of the zone and then if sellers are able to hold the level resisting all the buying power and probably giving us beautiful rejection wicks along with candle formations, we have a potential 4hr sell.
May happen today, or tomorrow, or maybe not. We wait and watch.
Also there is EUR news later today, so lets see how the markets react to that.
Once broken, we wait for a nice retest of the zone and then if sellers are able to hold the level resisting all the buying power and probably giving us beautiful rejection wicks along with candle formations, we have a potential 4hr sell.
May happen today, or tomorrow, or maybe not. We wait and watch.
Also there is EUR news later today, so lets see how the markets react to that.