Great over extended daily run approaching at a key area of resistance. Looking for confirmed momentum on that daily timeframe .
1 Hour timeframe has what appears to be a failing bullish trend with the upward sloping trend line being broken to the downside. At this point I will be monitoring a pullback once a confirmed low is formed into a key area of confluence to trade to the downside.
Target will be the next area of daily support whilst monitoring price action around the 4 hour 50 EMA.
1 Hour timeframe has what appears to be a failing bullish trend with the upward sloping trend line being broken to the downside. At this point I will be monitoring a pullback once a confirmed low is formed into a key area of confluence to trade to the downside.
Target will be the next area of daily support whilst monitoring price action around the 4 hour 50 EMA.