So we'll break it down starting from the Daily time frame and we'll move our way down to the 1HR time frame.
Daily:
• Market Structure is continuing to create lower low's and lower high's.
• The simple moving average (red) is still above the exponential (blue)
4 Hour Time Frame:
• Market structure is still creating lower low's and lower high's
• We have a supply zone that's been rejected 6 times and the market recently broke and closed below it.
• We currently have a double top that formed under the 4 hour supply zone and under the 4 hour trend line.
• The market respected the 4 hour trend line and the supply zone.
• The market bounced off (rejected) the 4 hour trend line and 4 hour supply zone.
• We have 2 evening star that formed and rejected off the 4 hour trend line and the 4 hour supply zone.
* We currently have a counter trend line drawn (green). (I wouldn't get into a sell until the market breaks and closes below it) *
1 Hour Trend Frame:
• We have divergence in the market vs the RSI.
• Moving averages crossed and the simple (red) is over the exponential (blue)
• Engulfing bearish candle.
* Note to always count your pip to set your stop loss. Set your stop loss below the previous low or above the previous high, and always use risk management. Live to trade another day *
Daily:
• Market Structure is continuing to create lower low's and lower high's.
• The simple moving average (red) is still above the exponential (blue)
4 Hour Time Frame:
• Market structure is still creating lower low's and lower high's
• We have a supply zone that's been rejected 6 times and the market recently broke and closed below it.
• We currently have a double top that formed under the 4 hour supply zone and under the 4 hour trend line.
• The market respected the 4 hour trend line and the supply zone.
• The market bounced off (rejected) the 4 hour trend line and 4 hour supply zone.
• We have 2 evening star that formed and rejected off the 4 hour trend line and the 4 hour supply zone.
* We currently have a counter trend line drawn (green). (I wouldn't get into a sell until the market breaks and closes below it) *
1 Hour Trend Frame:
• We have divergence in the market vs the RSI.
• Moving averages crossed and the simple (red) is over the exponential (blue)
• Engulfing bearish candle.
* Note to always count your pip to set your stop loss. Set your stop loss below the previous low or above the previous high, and always use risk management. Live to trade another day *