Trend: Bearish, longer term
Structure: Support and Resistance
Plan:
Price has been confirming an upper trend line and has most recently on the one hour timeframe formed a lower low suggesting bear power.
We now look to take a short from the upper resistance line down to either previous lows or lower resistance
Price for the last week hours has been in an up trend so please wait for MACD confirmation before entry, as price could quite easily move higher before continuing it bearish trend.
Structure: Support and Resistance
Plan:
Price has been confirming an upper trend line and has most recently on the one hour timeframe formed a lower low suggesting bear power.
We now look to take a short from the upper resistance line down to either previous lows or lower resistance
Price for the last week hours has been in an up trend so please wait for MACD confirmation before entry, as price could quite easily move higher before continuing it bearish trend.
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