On the daily timeframe, this setup for a massive sell looks promising. Even though currently the 4 hourly candle is above the daily resistance level, it seems the daily levels are more likely to sustain and push the price back below the resistance on the daily tf.
Those wicks on the daily tf over the last about 2 weeks make the setup look so solid for a sell trade on this chart.
If the current daily tf candle closes above the horizontal level, then we must be careful. That could be a break out on the upper side.
We'll keep a close watch at the lower tf candles on this chart. Lowe tf candles, such as, 4 hourly and 1 hourly.
Those wicks on the daily tf over the last about 2 weeks make the setup look so solid for a sell trade on this chart.
If the current daily tf candle closes above the horizontal level, then we must be careful. That could be a break out on the upper side.
We'll keep a close watch at the lower tf candles on this chart. Lowe tf candles, such as, 4 hourly and 1 hourly.
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