Explanation is in the chart based on H4 chart. Feel free to leave any questions or comments.
*Before I get asked - the EMAs on my chart are apart of my personal trading plan and used as an additional confluence. They are not necessary to this specific analysis, just something I keep on my charts at all times. Please ignore them.. but if you're insistent on learning how to properly use EMA's I'll point you in the right direction. I believe everyone has a right to free, non-BS education to build a foundation. :)
*Before I get asked - the EMAs on my chart are apart of my personal trading plan and used as an additional confluence. They are not necessary to this specific analysis, just something I keep on my charts at all times. Please ignore them.. but if you're insistent on learning how to properly use EMA's I'll point you in the right direction. I believe everyone has a right to free, non-BS education to build a foundation. :)