4H-Break and retest. 1H analysis
Updated
Hours Timeframes are all showing Bearish signals.
4H - Break and retest of the trendline. base on the location of the market i believe we could find a good setup on both 1H and 30m
1H - Market on downtrend forming a LH. we have a bearish engulfing at LH. better on waiting for another hour to see how the next candles will do to get more confirmation for a entry.
Note to consider: Daily closed with a long wick which giving a sign of some buyers coming to the market.
We do have good setup for our entry based on 1H. but try to keeping an eye if the market broke the resistance then close the trade by cutting loses short.
4H - Break and retest of the trendline. base on the location of the market i believe we could find a good setup on both 1H and 30m
1H - Market on downtrend forming a LH. we have a bearish engulfing at LH. better on waiting for another hour to see how the next candles will do to get more confirmation for a entry.
Note to consider: Daily closed with a long wick which giving a sign of some buyers coming to the market.
We do have good setup for our entry based on 1H. but try to keeping an eye if the market broke the resistance then close the trade by cutting loses short.
Note
If the next candle doesn't close an engulfing on 4H, i will close the trade manually.Note
Market did play out on our long term bias. as mentioned above, sometimes market fakes the bull run and ten comes back into the previous trend like above.
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