An engulfing weekly candle is no joke. Sellers are in control.
There is a strong possibility of a pull back and with bias being short, I am looking for a strong LH on the 1/2HR TF to form at 6330 as 50% or 6370- 6375 near the weekly POC.
Confluences for Pull back scenario
- Price bounced off 38.2% fib from 5930 to ATH
- Price found support at 200 ema on 4HR
- 1 HR MACD is building up bullish signal
Have a great week all!
There is a strong possibility of a pull back and with bias being short, I am looking for a strong LH on the 1/2HR TF to form at 6330 as 50% or 6370- 6375 near the weekly POC.
Confluences for Pull back scenario
- Price bounced off 38.2% fib from 5930 to ATH
- Price found support at 200 ema on 4HR
- 1 HR MACD is building up bullish signal
Have a great week all!
Transaction en cours
Trade not active yet. Watching how NY session reacts to this level, expect price to stall at the W POC line for a weekly decision. 6375 is a key level
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.