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 the weekly timeframe we can clearly see that price last week found a lot of support at the 149.000 level and closed bullish. This is telling me that we could see some movement back to the upside this week.
On the H4 timeframe we are still in a downtrend and actually in a potential sell area. I will be waiting for either a break or rejection of the 151.800 level before taking any positions.
On the weekly timeframe we can clearly see that price last week found a lot of support at the 149.000 level and closed bullish. This is telling me that we could see some movement back to the upside this week.
On the H4 timeframe we are still in a downtrend and actually in a potential sell area. I will be waiting for either a break or rejection of the 151.800 level before taking any positions.