Price reclaimed mid range and is repeatedly testing previous resistance while forming micro high lows
At the range midpoint price formed a demand zone which adds to the support confluence.
If price can close above the resistance level expect range high to be tested.
At the range midpoint price formed a demand zone which adds to the support confluence.
If price can close above the resistance level expect range high to be tested.
Comment:
Resting bids filled and now I wait, if price reaches $9540 resistance again, I may move my SL to break even for 50% - 100% of position
Comment:
4H Close below Mid point. Manually closed this trade and i'm out
Comment:
Now it's usually a break of the level and another candle close below the level to confirm, however based on my RR setup I didn't want to take the chance. Currently the level has been reclaimed, a close above this level on the next 4H candle will confirm this, adding further confluence is the Daily close occurring as well. The down move was rejected of the 50% fib level, its possible to go long here with a SL below the rejection wick, might consider jumping back into the market
resting bids in support confluence area as there should be liquidity
there. Any HTF closes below mid range 4H + I most likely bail on this
trade as that would make a fifth rejection from the $95xx resistance