----> Top Down Analysis Price Action Weekly>Daily >4hr>1hr
----> Structure & Key Levels
----> HH, HL, LH, LL, FIBS
----> Price Action & Formation(s)
----> Daily/4HR Targets & Stops - Swing Lows & Swing Highs
----> R:R Min 1
Weekly - price action hasn't broken the previous high and so thus is still with a bias. We must note that a wide of price action on weekly support was recently formed two weeks ago. Lets see the lower time frames on a firmer bias for the week.
Daily - price action is determining a bias with price breaking previous high after creating a on the weekly . Price action and recent daily dojis suggest a pullback before continuing the uptrend. Note that price hasn't reached the previous structure. However we need to determine this on the lower timeframe.
4hr - price action shows a after a touch and close below of the previous resistance. Although price is in a it has created a series of touches on the resistance line providing a downtrend possibility. Pullback bias in the daily uptrend is still a current bias but what will the 1hr timeframe confirm?
1hr - price action as broken a previous structure of HL/LL and now could possibly be a downtrend bias overall. For a downtrend bias to occur, price will need to bounce of the 1hr resistance and break the 4hr support below. For the continuation of the uptrend, price action will form a 3rd touch on the 4hr support before close above and continuing upwards hopefully breaking the 4hr resistance.
Targets set at 4hr resistance of 126.1 before trading the pullback. However, a bias will see targets at daily support of 123.7.