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.
Daily:
Yesterday we closed green and hit the yellow resistance area. Today we pushed up continuing the bullish retracement trend but got rejected at a minor level (green line).
Overall trend remains bearish, we've yet to violate the bear structure on the daily. It hasn't made an obvious higher high or higher low yet. But if we want to short, we need some confirmations maybe on 4hr or lower.
4hr:
As of this moment, quite bearish looking. However, candle hasn't close so we might need to come back again later.
1hr:
If we close below the higher white box. Risky sells.
For safer sells, close below the lower white box + into yellow box. Break and retest on 1hr or 30 min might be good.
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.
Daily:
Yesterday we closed green and hit the yellow resistance area. Today we pushed up continuing the bullish retracement trend but got rejected at a minor level (green line).
Overall trend remains bearish, we've yet to violate the bear structure on the daily. It hasn't made an obvious higher high or higher low yet. But if we want to short, we need some confirmations maybe on 4hr or lower.
4hr:
As of this moment, quite bearish looking. However, candle hasn't close so we might need to come back again later.
1hr:
If we close below the higher white box. Risky sells.
For safer sells, close below the lower white box + into yellow box. Break and retest on 1hr or 30 min might be good.