Just like the post yesterday shown on the hourly, we now see it on the 4H where the "bounces" are not going anywhere but sideways and it is not the price reaching EMA resistance... it is the EMA resistance reaching the price.
Bears still have full control looking for a 4H lower high.
I personally had some bids set yesterday as my criteria for being interested in a bounce were close to being hit... daily RSI mid 20s, 4H RSI low 20s, but we did not break the $6,526 support so none of my bids filled. At this point 4H RSI has cooled off enough for me to pull my bids, and patiently wait for at least another leg down. I have a deeper fishing bid that I would be surprised if it filled, and I will see where we stand if we do see another leg down.
Establish those game plans! The less decision making you have to do in the heat of the moment... the better.
Bears still have full control looking for a 4H lower high.
I personally had some bids set yesterday as my criteria for being interested in a bounce were close to being hit... daily RSI mid 20s, 4H RSI low 20s, but we did not break the $6,526 support so none of my bids filled. At this point 4H RSI has cooled off enough for me to pull my bids, and patiently wait for at least another leg down. I have a deeper fishing bid that I would be surprised if it filled, and I will see where we stand if we do see another leg down.
Establish those game plans! The less decision making you have to do in the heat of the moment... the better.
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