WEEKLY CHART - price currently in a uptrend making higher highs and higher lows - weekly candle closed above the monthly key level (black line)
DAILY CHART - price in a overall uptrend (confluence with the weekly chart) - daily candle closed above the monthly key level - strong bullish candle broke through the monthly level
4 HOUR CHART - price in a strong uptrend (three timeframes in confluence with the trend) - price making higher highs and higher lows - nice strong bearish candle printed on the 4 hour chart - price to signal a downtrend if price breaks 113.047 level ENTRY - looking for price to retest the monthly key level of 113.700 (nice round number) which has been tested as S/R multiple of times (looking left)
TARGET - looking for a test of level 114.524 which has been tested previously - if price does reach target area, will be looking for shorts from 114.524 level