Euro / U.S. DollarUpdated EURUSD - 9 August 2022
In 4H, we can see the way price move back up is relatively corrective to the way it moved down. Price take out the previous high and retrace immediately with 2 large wicks to upside indicating bearish pressure kicking in.
If price shows a respect to the wick (internal 4H high), we may start to look for trade idea of short in MTF (1H, 15m, 5m)
If price shows a respect to the wick (internal 4H high), we may start to look for trade idea of short in MTF (1H, 15m, 5m)
Note
1H view:
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.