In today's market update, I maintain a neutral stance. While we saw a breakout yesterday, price has since been rejected at the 1-hour resistance. The key area I'm watching is the 4-hour demand zone.
Since the overall trend on higher timeframes remains bearish, I plan to wait until price reaches this level—I'm cautious about entering long positions. If price clearly rejects bullishly from the 4-hour demand zone, I will go long.
However, if the 4-hour demand zone breaks down, I'll look for a short position on a retest of this zone.
Since the overall trend on higher timeframes remains bearish, I plan to wait until price reaches this level—I'm cautious about entering long positions. If price clearly rejects bullishly from the 4-hour demand zone, I will go long.
However, if the 4-hour demand zone breaks down, I'll look for a short position on a retest of this zone.
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