Following last week bullish push, prie has been very extended as it surge upwards to retest the Insitutitonal Level 1.135. It has found strong selling pressure on 1.135 as it printed a strong Shooting Star followed by a Bearish Engulfing on Friday close.
Since yesterday Monday's open, price has failed to sustain the break above 1.13 and continue to consolidate below it as all the candles close below 1.13.
As of now, it is currently retesting the Institutional Level 1.13 once again with price close slightly above it. For now, I'll wait for price to show a clear breakout in either direction before deciding to take a setup.
Bias = Neutral
Structure = Consolidation
Setup = No
Since yesterday Monday's open, price has failed to sustain the break above 1.13 and continue to consolidate below it as all the candles close below 1.13.
As of now, it is currently retesting the Institutional Level 1.13 once again with price close slightly above it. For now, I'll wait for price to show a clear breakout in either direction before deciding to take a setup.
Bias = Neutral
Structure = Consolidation
Setup = No