H4 : In a ongoing uptrend channel. No sign of reversal
in this time frame yet.
Nevertheless, as mentioned previously on H1 analysis
a bearish divergence took place and a trend revesal
is in progress in shorter time frames.
Theferore, I would strongly suggest to monitor very closely
short term time frames (even on M5 for those who are very, very
short term oriented !!! to get clues on different time horizon, starting
from M5 to H4 on intraday basis.
CONCLUSION :
On H4, watch the following levels on a closing basis :
1) 58549
2) 56500
A breakout of one of those level would give the temperature for the upcoming
periods (see previous analysis for targets)
Ironman8848
in this time frame yet.
Nevertheless, as mentioned previously on H1 analysis
a bearish divergence took place and a trend revesal
is in progress in shorter time frames.
Theferore, I would strongly suggest to monitor very closely
short term time frames (even on M5 for those who are very, very
short term oriented !!! to get clues on different time horizon, starting
from M5 to H4 on intraday basis.
CONCLUSION :
On H4, watch the following levels on a closing basis :
1) 58549
2) 56500
A breakout of one of those level would give the temperature for the upcoming
periods (see previous analysis for targets)
Ironman8848
Comment:
Last candle triggered a "slighly" bearish pattern, some king of bearish engulfing (needs to be confirmed by the closing of the ongoing H4 candle !)
Comment:
Ongoing bearish price action, next significant support on H4 is @ 56'500
Comment:
56'422 being the Mid Bollinger Band level on D1 !
Comment:
Target of 56'500 reached(low being 56'235)
Update will follow
Update will follow
