H4 : The breakout of the former tactical downtrend @ 47280 (see previous post)
triggered this long bullish white candle which briefly broke the former high @ 49000
with an intraH4 high @ 49361 !
So what now ?
Last H4 price action is showing a potential double top formation in progress !
In addition 3 of the 4 technical indicators are still pointing to the South...
Therefore, next H4 closing level would give more clue for the upcoming trading hours.
In the meantime, watch carefully, M5, M15 and H1 for intermediate warning signals
triggered this long bullish white candle which briefly broke the former high @ 49000
with an intraH4 high @ 49361 !
So what now ?
Last H4 price action is showing a potential double top formation in progress !
In addition 3 of the 4 technical indicators are still pointing to the South...
Therefore, next H4 closing level would give more clue for the upcoming trading hours.
In the meantime, watch carefully, M5, M15 and H1 for intermediate warning signals
