As you see in the 4H time frame, price could not break the support zone and was pushed to the upside and pulled back to 1850.
The main trend is still bearish but we don’t know know if the downtrend has reversed or price is in the correction phase.
So, we should wait for the price reaction to the next resistance level around 1865:
If price breaks this resistance level and closes a bullish 4H candle above it, I expect more upside move around 1888.
On the other side, if price gets rejected from the red resistance level and closes a bearish candle below it as a sign of rejection, I expect the continuation on the bearish move around 1820 which is support area and in the case of a downside breakout on this zone, the next target would be around 1790.
The main trend is still bearish but we don’t know know if the downtrend has reversed or price is in the correction phase.
So, we should wait for the price reaction to the next resistance level around 1865:
If price breaks this resistance level and closes a bullish 4H candle above it, I expect more upside move around 1888.
On the other side, if price gets rejected from the red resistance level and closes a bearish candle below it as a sign of rejection, I expect the continuation on the bearish move around 1820 which is support area and in the case of a downside breakout on this zone, the next target would be around 1790.
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As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.