H4 : Last candle triggered a recovery (bullish engulfing pattern), but... closing was below KS !
Moreover, the tactical downtrend line resistance remains intact.
Recent price action, for the time being as only been a corrective move (pullback) towards
the current downtrend line resistance.
Therefore, in that timeframe, we need to wait the closing of the ongoing period to see if the recent
upmove will be confirmed by a breakout of the current tactical downtrend.
If it is confirmed the current downtrend would becomes the new support line to look at !
In the meantime, continue to watch H1, M15 and M5 for intermediate signals.
Moreover, the tactical downtrend line resistance remains intact.
Recent price action, for the time being as only been a corrective move (pullback) towards
the current downtrend line resistance.
Therefore, in that timeframe, we need to wait the closing of the ongoing period to see if the recent
upmove will be confirmed by a breakout of the current tactical downtrend.
If it is confirmed the current downtrend would becomes the new support line to look at !
In the meantime, continue to watch H1, M15 and M5 for intermediate signals.
