The breakout that we were looking for turned out to be a false break which means we might be going inside a range on the H4 chart
We will be looking for shorts near the top of this potential range. As long as the last high around 0.7140 holds.
This is a very possible bullish scenario
Wait for confirmations or signal from your strategy! This is why don't just jump into sell trades around certain levels. Remember guys, we are in the holiday period already and many of the institutional traders are not on their desks. Which means lower volumes and ugly moves. We cannot avoid this part, BUT we can avoid getting on bad entries.
The important levels to pay attention to are the highlighted zones in the screenshot above, if price decides to break above the H4 range we are following.
We will be looking for shorts near the top of this potential range. As long as the last high around 0.7140 holds.
This is a very possible bullish scenario
Wait for confirmations or signal from your strategy! This is why don't just jump into sell trades around certain levels. Remember guys, we are in the holiday period already and many of the institutional traders are not on their desks. Which means lower volumes and ugly moves. We cannot avoid this part, BUT we can avoid getting on bad entries.
The important levels to pay attention to are the highlighted zones in the screenshot above, if price decides to break above the H4 range we are following.