Looking at out highest timeframe we see price has once again reached our major support at 1200 expecting a to form at this level. showing momentum is heading towards the downside, however remember indicates rely on price action. Let’s take a look at our other timeframes.
Shifting to our pattern timeframe we get a better perspective of our formation. Waiting for a daily close above 1300 before taking a buy, showing momentum is heading towards the upside.
Finally looking at our trigger timeframe we see price has also formed a inside our smaller timeframe, while our bigger timeframe forms. 4Hour close above 1300 activates our trade, showing momentum slowing down from it’s short term run.
Wait for the daily close above 1300