Weekly:
Closed previous week right at previous weekly support area. Trend is bearish, but won't be surprising to see a bounce off the support area. Bounce continues.
Daily:
Yesterday was a weak green candle, rejecting the green line resistance.
While we are bullish right at this moment. We continue to maintain the higher tf bearish structure, no higher high made on the daily TF yet.
I think we need to see how the lower timeframe progress to get a better directional bias.
4hr:
Clearly ranging with candles stacked side by side. We've held a new higher low - which is holding up the reversal on the weekly/daily so far.
1hr candle closes outside the 4 hour range would be better bets than trading inside the range.
Closed previous week right at previous weekly support area. Trend is bearish, but won't be surprising to see a bounce off the support area. Bounce continues.
Daily:
Yesterday was a weak green candle, rejecting the green line resistance.
While we are bullish right at this moment. We continue to maintain the higher tf bearish structure, no higher high made on the daily TF yet.
I think we need to see how the lower timeframe progress to get a better directional bias.
4hr:
Clearly ranging with candles stacked side by side. We've held a new higher low - which is holding up the reversal on the weekly/daily so far.
1hr candle closes outside the 4 hour range would be better bets than trading inside the range.