Highertime frame: Overall the market has been bearish however according to my rules the market has been over my daily trendline and broke the previous structure so we have noticed a minor bullish trend. It has formed a zone so we are looking for trades within this zone that it has formed. It is important to note that according to the bullish bias we have, there has been a smooth 61.8 retracement from the break of structure.
4H: Moving down to the 4H timeframe we see that this market has been consolidating inside this zone since May 24. From the previous high to the last low where it formed the 61.8 retracement, I believe this market is going to test that point again and probably break it in order to stop hunt. We are currently taking sells in this zone since the market has formed a LH around the 78.6 retracement zone, and has formed another 78.6 retracement. Looking for a smooth 1:2 to kick off this challenge.
4H: Moving down to the 4H timeframe we see that this market has been consolidating inside this zone since May 24. From the previous high to the last low where it formed the 61.8 retracement, I believe this market is going to test that point again and probably break it in order to stop hunt. We are currently taking sells in this zone since the market has formed a LH around the 78.6 retracement zone, and has formed another 78.6 retracement. Looking for a smooth 1:2 to kick off this challenge.