Hourly higher lows and EMA support looks good, but a zoom out shows us we are battling 4 hour EMA resistance.
Potential for a daily inside bar to form today.
If we lose the hourly higher lows, we will look for consolidation and the need to form a 4 hour higher low.
Note all RSI levels have cooled off which opens the door for a potential leg down.
Currently riding small positions on the hourly uptrend and will exit if higher lows are lost.
Still cautious at these levels, just an oversold bounce at this point until longer term time frames change trends.
Potential for a daily inside bar to form today.
If we lose the hourly higher lows, we will look for consolidation and the need to form a 4 hour higher low.
Note all RSI levels have cooled off which opens the door for a potential leg down.
Currently riding small positions on the hourly uptrend and will exit if higher lows are lost.
Still cautious at these levels, just an oversold bounce at this point until longer term time frames change trends.
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