Start of greener things to come (for today)
This massive bull wick on the 4h TF that rejected a support that has been tested 3 previous times makes me think that this has the potential to ride up to 30624 today before finding resistance there.
I think that the 30624 area is a good "consolidation" area but it is not a good entry point for a short because of the 10 candle resistance on the price above. Good entry for short in this set up would be 31500-31200. But the best entry would be a short at 32000.
The bigger TFs show that we might be getting back into a bull trend because it broke out of a 1D channel 3 days go and the 4h strong BUY PIN was a confirmation of that.
I think that the 30624 area is a good "consolidation" area but it is not a good entry point for a short because of the 10 candle resistance on the price above. Good entry for short in this set up would be 31500-31200. But the best entry would be a short at 32000.
The bigger TFs show that we might be getting back into a bull trend because it broke out of a 1D channel 3 days go and the 4h strong BUY PIN was a confirmation of that.