Starting on the daily time frame, price has created a nice triple bottom, or some may consider it a double bottom. However, price visited this support area several times, and finally broke out to the upside.
The 4H shows a clear break of a bearish trend line as the markets closed last week. There was some signs of exhaustion based on the wicks right before market close.
So I will be looking for a slight pullback into the counter trendine and previous resistance (now will be support) area before looking to buy.
The 4H shows a clear break of a bearish trend line as the markets closed last week. There was some signs of exhaustion based on the wicks right before market close.
So I will be looking for a slight pullback into the counter trendine and previous resistance (now will be support) area before looking to buy.