Monthly Weekly Daily Heavy bullish volume.
Next monthly resistance is around 167.00
im following the trend on the 4hr and waiting for a confirmation at 164.750.
As of right now the 4hr chart is on a retracement back down to the prior broken resistance at 164.750
164.750 correlates with the 50% FIB and the 61.8% fib level taken on the bullish impulse which is acting as past resistance to the left and is now retracing back to retest that broken structure.
I also use the MAs 10 and 20 and both MAs are acting as dynamic support below this area.
ill wait for at least 1 4hr candle flip to the upside and close ABOVE 164.750 to play a buy to 166.100.
If price decides to tank below 164.750 my trade will be invalid. I will then possibly look for sells to 163.800
Next monthly resistance is around 167.00
im following the trend on the 4hr and waiting for a confirmation at 164.750.
As of right now the 4hr chart is on a retracement back down to the prior broken resistance at 164.750
164.750 correlates with the 50% FIB and the 61.8% fib level taken on the bullish impulse which is acting as past resistance to the left and is now retracing back to retest that broken structure.
I also use the MAs 10 and 20 and both MAs are acting as dynamic support below this area.
ill wait for at least 1 4hr candle flip to the upside and close ABOVE 164.750 to play a buy to 166.100.
If price decides to tank below 164.750 my trade will be invalid. I will then possibly look for sells to 163.800