We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and demand zones, market structure, candlestick analysis etc. On crypto we are looking at the Daily and 1 Hour timeframes to take trades when they are ready.
On the weekly timeframe timeframe we are breaking out above the 157.00 level. Price closed last week extremely bullish but we have the opportunity here to retest the previous high before going higher. I want to see a clear HL form before taking any buys on this pair.
On the H4 timeframe we can see that price is extremely over extended and we would need to see a pullback to the 155.00 level before considering taking more long opportunities.
On the weekly timeframe timeframe we are breaking out above the 157.00 level. Price closed last week extremely bullish but we have the opportunity here to retest the previous high before going higher. I want to see a clear HL form before taking any buys on this pair.
On the H4 timeframe we can see that price is extremely over extended and we would need to see a pullback to the 155.00 level before considering taking more long opportunities.