Yesterday we had a bear trap where we broke to a lower low, and instantly the bulls aggressively bought to get the bounce underway.
We rejected from EMA resistance which is recent videos I have suggested as an area bears look for re-entry when RSI cools off.
Now the bulls must form a higher low on the 4 hour to either give an equilibrium or try and see bounce continuation.
EMA resistance will remain key on any follow through attempt from here.
Potential for a daily inside bar to form today which will be on watch tomorrow if so.
Currently still in a smaller position in the green and letting things play out a little further on the 4 hour. Break even worst case at this point.
So far this bounce has limited follow through keeping the bears comfortable.
We rejected from EMA resistance which is recent videos I have suggested as an area bears look for re-entry when RSI cools off.
Now the bulls must form a higher low on the 4 hour to either give an equilibrium or try and see bounce continuation.
EMA resistance will remain key on any follow through attempt from here.
Potential for a daily inside bar to form today which will be on watch tomorrow if so.
Currently still in a smaller position in the green and letting things play out a little further on the 4 hour. Break even worst case at this point.
So far this bounce has limited follow through keeping the bears comfortable.
Checkout our full trading resources online chartguys.com
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
Checkout our full trading resources online chartguys.com
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.