Weekly:
We closed with a red candle last week and a lower high. This kept in place the bearish trend that we've been on for weeks.
Daily:
So as rightly predicted for yesterday. Big red candle. Nothing really changed here, we are clearly bearish. Look left and its a really clean way down.
I think one might wonder if we might flip green here and create support in the middle of nowhere. That's not impossible but we can only tell it from the lower time frames.
4H:
We do see 1 or 2 green candles here after many red ones. Definitely sensing a bit of consolidation but no clear idea if this is reversal yet.
1H:
Going down to the 1Hr TF because we want to see if there are trades possible going into London Session.
What we see here is a 1hr consolidation marked by the teal box. Broken up and forming a retest.
If we can close the hour candle with a bullish engulfing green candle, we might have a nice scalp to 150.800 area.
Otherwise, continuation down with break and retest of the bottom of the teal box is ideal for sells.
We closed with a red candle last week and a lower high. This kept in place the bearish trend that we've been on for weeks.
Daily:
So as rightly predicted for yesterday. Big red candle. Nothing really changed here, we are clearly bearish. Look left and its a really clean way down.
I think one might wonder if we might flip green here and create support in the middle of nowhere. That's not impossible but we can only tell it from the lower time frames.
4H:
We do see 1 or 2 green candles here after many red ones. Definitely sensing a bit of consolidation but no clear idea if this is reversal yet.
1H:
Going down to the 1Hr TF because we want to see if there are trades possible going into London Session.
What we see here is a 1hr consolidation marked by the teal box. Broken up and forming a retest.
If we can close the hour candle with a bullish engulfing green candle, we might have a nice scalp to 150.800 area.
Otherwise, continuation down with break and retest of the bottom of the teal box is ideal for sells.