H1 : Yesterday's price action, after having retested the former high above 52600, closed slightly lower
@ 51579. D1 indicators are losing some momentum.
Watch closely the former strategic uptrend resistance line which should be now seen as the first significant support area
in this time frame.
h4 : Recent price action seen from the peaks with 2 successive dojis pattern are also showing some lost of momentum in making
in closing H4 periods lower highs confirming for the time being an ongoing tactical reversal price action.
In addition, both new support trend line and roughly MBB have been tested on the last candle !!
Watch closely MBB as, again a very good "barometer" indicator for the upcoming H4 periods.
And as usual screen also very carefully H1 and M15 for intermediate signal (s) which will validate or invalidate the ongoing bearish price action in H4.
Have a nice trading day.
All the best and take care.
Ironman8848
@ 51579. D1 indicators are losing some momentum.
Watch closely the former strategic uptrend resistance line which should be now seen as the first significant support area
in this time frame.
h4 : Recent price action seen from the peaks with 2 successive dojis pattern are also showing some lost of momentum in making
in closing H4 periods lower highs confirming for the time being an ongoing tactical reversal price action.
In addition, both new support trend line and roughly MBB have been tested on the last candle !!
Watch closely MBB as, again a very good "barometer" indicator for the upcoming H4 periods.
And as usual screen also very carefully H1 and M15 for intermediate signal (s) which will validate or invalidate the ongoing bearish price action in H4.
Have a nice trading day.
All the best and take care.
Ironman8848
