Weekly:
We closed with a red candle last week and a lower high. This kept in place the bearish trend that we've been on for weeks.
Daily:
Big red candle yesterday as predicted. Now we're sitting on the white box - which is support we've bounced off a couple of times.
It's more likely that today will continue red as we try to break this white box support. Of course, let's not eliminate the possibility that we will move up to retest the yellow box above too. We'll need to go lower time frame to help with identifying that.
4H:
I think the key question for today is if we will hold the white box as support or not. What's clear is that after that big drop, the 4hr candles are getting tiny. It'll look a lot better for continual sells if we can close into the blue lines by London.
If not, countertrade buys back to yellow box is an option. I'm not too interested in that though.
We closed with a red candle last week and a lower high. This kept in place the bearish trend that we've been on for weeks.
Daily:
Big red candle yesterday as predicted. Now we're sitting on the white box - which is support we've bounced off a couple of times.
It's more likely that today will continue red as we try to break this white box support. Of course, let's not eliminate the possibility that we will move up to retest the yellow box above too. We'll need to go lower time frame to help with identifying that.
4H:
I think the key question for today is if we will hold the white box as support or not. What's clear is that after that big drop, the 4hr candles are getting tiny. It'll look a lot better for continual sells if we can close into the blue lines by London.
If not, countertrade buys back to yellow box is an option. I'm not too interested in that though.