Price is looking to continue to the downside from the initial push.
If we observe a nice 2H break and a valid continuation pattern we can expect price to push to the lows at the minimum.
Multi-timeframe analysis. 14/11/20
Weekly timeframe showed a huge rejection as the wick shows of the strong supply and demand zone shown. However short term momentum is to the upside and if a 4H break and resistance is then we can see the move to the upside back to the highs. It is important to bear in mind the short term buy is of moderate to high risk due to he...
Judging the weekly and daily timeframe we can see the overall momentum is still bearish. Short term momentum is to the upside having had a nice sugre of the huge monthly rejection zone where pending buy orders would have been sitting.
Both scenarios directed via the arrows require a 4H break and significant continuation pattern before taking to the upside....