Looking at the 4h timeframe we can see this same level charted on the daily continues to be respected. again this is significant because it is a point of reversal for the higher timeframes which will allow us to pay attention to when doing lower time frame anaylsis.
In a case like this, should the current 4h candle fail to close above this, I will be looking to take sells after a top wick has been formed, and the candle itself flips from bullish to bearish for price to continue down.
We have US unemployment claims today also which will give us extra volume.
In a case like this, should the current 4h candle fail to close above this, I will be looking to take sells after a top wick has been formed, and the candle itself flips from bullish to bearish for price to continue down.
We have US unemployment claims today also which will give us extra volume.
