On the 4-hour and daily timeframes, there is a clear pattern of higher highs (HH) and higher lows (HL). Considering this trend, the current downward movement visible on the 1-hour chart appears to be a pullback favoring buyers. Timing becomes crucial, and the inability to establish a lower low (LL) and lower high (LH) sequence on the 1-hour timeframe serves as the trigger for a potential resumption of buying activity.
Examining the volume indicator reveals the highest concentration of volume chunks, indicating a possible hint towards the resurgence of buying interest. If the LL and LH sequence is broken, I am inclined to initiate a buy position. In such a scenario, the stop-loss (SL) will be set at the level of the last established lower low
Examining the volume indicator reveals the highest concentration of volume chunks, indicating a possible hint towards the resurgence of buying interest. If the LL and LH sequence is broken, I am inclined to initiate a buy position. In such a scenario, the stop-loss (SL) will be set at the level of the last established lower low