Short term Long to 121.5 - Overall Bias bearish.
M&W - Downtrend
D - Price made new highs but ended with wicks which did not indicate a convincing break. Price appears to be going back to retest this support again.
4hr - Price is currently in a descending triangle and approaching the top of the triangle. Will wait to see how price reacts.
1hr and 30 min - price broke resistance and appears to be heading up.
Depending on how price reacts to 121.5, we will see if the short move continues or if my overall bias will change to bullish.
D - Price made new highs but ended with wicks which did not indicate a convincing break. Price appears to be going back to retest this support again.
4hr - Price is currently in a descending triangle and approaching the top of the triangle. Will wait to see how price reacts.
1hr and 30 min - price broke resistance and appears to be heading up.
Depending on how price reacts to 121.5, we will see if the short move continues or if my overall bias will change to bullish.
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