We are bullish on a highest time frames. But on 4h we have bearish rejection after crushing mid term ATH around 4400.
So now we have typical correction.
As we are bullish on a daily chart I can suppose to open trend continuation trade. 3650 Level looks good as a reversal point.
You can see that we are starting to Make higher lows + higher high on oscillators ( additional sign that we a around reversal point).
4200 looks like a first stop in my scenario with a further continuation higher.
What we don't want to see:
1. Pin bar crushing 3500.
2. Price closing under 3600 with a further consolidation which may lead to a price drop.
What we want to see:
1. Price make higher highs + higher lows not only on oscillator but also on a graph.
This is not short term trade be ready to wait around 5-9 days.
Lets see how It goes.
So now we have typical correction.
As we are bullish on a daily chart I can suppose to open trend continuation trade. 3650 Level looks good as a reversal point.
You can see that we are starting to Make higher lows + higher high on oscillators ( additional sign that we a around reversal point).
4200 looks like a first stop in my scenario with a further continuation higher.
What we don't want to see:
1. Pin bar crushing 3500.
2. Price closing under 3600 with a further consolidation which may lead to a price drop.
What we want to see:
1. Price make higher highs + higher lows not only on oscillator but also on a graph.
This is not short term trade be ready to wait around 5-9 days.
Lets see how It goes.
Trade closed: stop reached