If price breaks above prior high and stays above = look to long.
If price breaks above then snaps back down = look to short.
If short, look to grey lines for support (slowing down price or potentially reversing price).
Need to watch price closely at these levels to see if price wants to simply pullback, then continue lower. Or continue the higher timeframe uptrend higher.
Would be a decent short. But needs to be watched as there are plenty of levels where price may encounter buyers.
If price breaks above then snaps back down = look to short.
If short, look to grey lines for support (slowing down price or potentially reversing price).
Need to watch price closely at these levels to see if price wants to simply pullback, then continue lower. Or continue the higher timeframe uptrend higher.
Would be a decent short. But needs to be watched as there are plenty of levels where price may encounter buyers.
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