Time frame confluence, all time frames are indicating an uptrend, currently waiting for price action.
- Waiting for price to break the pink zone, and trend line for a sell.
- OR waiting for price action to keep proceeding to the upside.
- Price might be exhausted, from going to the upside but as well as heading down.
- Price is in a range-type market.
-...
When we step back and take a broader look at the one hour chart, we can see that we are perfectly inline with a fib based retracement. We could see a little stagnation at current level and then the bullish breakout to the next zone.... either that or this was the trend reversal... maybe based off the weekly technicals. Any ideas??
