Blue line (monthly resistance)
Brown chart ( Daily support)
Black lines( 4 hour support and resistance)
We can see that 4 hour as well as monthly resistance has been touched and not broken. However daily support was not broken. we can expect an up trend to the 4 hour resistance before a down trend to support. Can use 1 hour time frame for the buy trend and for the down trend.
Brown chart ( Daily support)
Black lines( 4 hour support and resistance)
We can see that 4 hour as well as monthly resistance has been touched and not broken. However daily support was not broken. we can expect an up trend to the 4 hour resistance before a down trend to support. Can use 1 hour time frame for the buy trend and for the down trend.
Trade active:
Looks like the down trend is now active, lets see how low it gets