*). Price Failed to Make a New High in the 4-Hour (4H) Chart:This indicates a potential weakening of the bullish momentum. When the price fails to reach or exceed the previous high on a 4-hour chart, it suggests that buyers are losing strength and sellers might start gaining control. This scenario can often lead to a reversal or a consolidation period before the next significant move.
*). Price Started Trading Below the Horizontal Structure on the 2-Hour (2H) Chart:Trading below a horizontal structure, which could be a support or resistance level, is a key signal of a potential trend change. In this case, if the price begins to trade below a previously established support level on the 2-hour chart, it indicates a shift in market sentiment from bullish to bearish. This breakdown often leads to further downward pressure on the price.
*). Wait for Price to Pull Back and Fill the Fair Value Gap (FVG):The Fair Value Gap (FVG) represents an area where the price has moved too quickly in one direction, creating an imbalance between buyers and sellers. Traders often wait for the price to retrace and "fill" this gap before continuing in the original direction. This pullback to fill the FVG can provide a better entry point for traders looking to short the market, as it indicates the price is returning to a more balanced state before resuming its downward move.
*). Anticipating that Price Will Drop Towards the 1.26490 Support Level:Given the failure to make a new high, the breakdown below the horizontal structure, and the potential retracement to fill the FVG, the overall expectation is for the price to continue its decline. The target for this drop is the 1.26490 support level.
By combining these technical indicators, traders can form a more comprehensive view of the market's direction and make more informed trading decisions. Good Luck 🤞🤞
*). Price Started Trading Below the Horizontal Structure on the 2-Hour (2H) Chart:Trading below a horizontal structure, which could be a support or resistance level, is a key signal of a potential trend change. In this case, if the price begins to trade below a previously established support level on the 2-hour chart, it indicates a shift in market sentiment from bullish to bearish. This breakdown often leads to further downward pressure on the price.
*). Wait for Price to Pull Back and Fill the Fair Value Gap (FVG):The Fair Value Gap (FVG) represents an area where the price has moved too quickly in one direction, creating an imbalance between buyers and sellers. Traders often wait for the price to retrace and "fill" this gap before continuing in the original direction. This pullback to fill the FVG can provide a better entry point for traders looking to short the market, as it indicates the price is returning to a more balanced state before resuming its downward move.
*). Anticipating that Price Will Drop Towards the 1.26490 Support Level:Given the failure to make a new high, the breakdown below the horizontal structure, and the potential retracement to fill the FVG, the overall expectation is for the price to continue its decline. The target for this drop is the 1.26490 support level.
By combining these technical indicators, traders can form a more comprehensive view of the market's direction and make more informed trading decisions. Good Luck 🤞🤞