reason for entry
1. if you look at monthly timeframe price is making a double top and is on the 2nd leg
2. weekly timeframe you can see a head and shoulders
3. daily timeframe price has broken below support area
my bias is bearish and im targetting the 1680 area and im looking for two ways to possibly enter. 1 is price breakes consolidation on the 4 hr to the downside with a strong candle showing that it will continue down with no retest the other is price breaks consolidation to the upside where i will wait for a break and retest of old support turning into new resistance before i enter
1. if you look at monthly timeframe price is making a double top and is on the 2nd leg
2. weekly timeframe you can see a head and shoulders
3. daily timeframe price has broken below support area
my bias is bearish and im targetting the 1680 area and im looking for two ways to possibly enter. 1 is price breakes consolidation on the 4 hr to the downside with a strong candle showing that it will continue down with no retest the other is price breaks consolidation to the upside where i will wait for a break and retest of old support turning into new resistance before i enter