6515 is the 4-hour structural high, we might see a continuation from this point with the confluence of the hanging man candlestick towards 6424 the 0,618 fib extension level. If it breaks, 6540 will be the target for the new high from there we might see a retest of the 65 S&D area.
Comment:
since price has broken above the resistance point it can or cannot do 2 things :), it might continue up to 6540 where I will add another short position to profit from a possible retest of the 0.65 region where I will close all my short positions one in breakeven and the other one in profit, or price might retest the trendline in around 6475 area where I will take profit and might consider going long but be mindful as the long term bias and market structure still remains bearish in my opinion.
Trade closed: target reached:
As I wrote in my previous analysis price dumped to the 6475 area and I closed my short position from 6516 in profit and also I wrote you can long from there and price actualy went flying from there.
As I wrote in my previous analysis price dumped to the 6475 area and I closed my short position from 6516 in profit and also I wrote you can long from there and price actualy went flying from there.