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 crypto we are looking at the Daily and 1 Hour timeframes to take trades when they are ready.
On the weekly timeframe we can see that price is currently very bearish. Last week closed out with a bearish candle to the downside telling us that price is in a steady downtrend on the lower timeframes. We will look to target the 0.69500 area before looking for significant reversals here .
On the H4 we can see that this pair just formed consecutive LH points and at this point should be pushing to the downside. We will not enter endless it is on a retest of structure.
On the weekly timeframe we can see that price is currently very bearish. Last week closed out with a bearish candle to the downside telling us that price is in a steady downtrend on the lower timeframes. We will look to target the 0.69500 area before looking for significant reversals here .
On the H4 we can see that this pair just formed consecutive LH points and at this point should be pushing to the downside. We will not enter endless it is on a retest of structure.