H4 - False break with bullish divergence, price moving higher. Hidden bearish divergence completed which is now transforming into continuing divergence. Price is currently at the 50% retrace level of the H4 cycle.
H1 - Based on the fibo extension level of the first leg, the 61.8 fibo extension level and 61.8 fibo retrace level of the H4 cycle coincides on the same zone thus creating a magnet zone for us. Bearish divergence.
If you want to be aggressive then update the uptrend line to the most recent low that is to be created and you can go short with the breakout of it.
If you want to be conservative then wait for the price to break below the middle point at 6554 and then start looking for sells.
H1 - Based on the fibo extension level of the first leg, the 61.8 fibo extension level and 61.8 fibo retrace level of the H4 cycle coincides on the same zone thus creating a magnet zone for us. Bearish divergence.
If you want to be aggressive then update the uptrend line to the most recent low that is to be created and you can go short with the breakout of it.
If you want to be conservative then wait for the price to break below the middle point at 6554 and then start looking for sells.