H1 Status Update
- Check 1: Candles closed back below 54 LWMA and LO: Bearish!
- Check 2: Back inside triangle of either RED TL breakout or BLUE trendline breakout: Mixed!
- Check 3: I moved LO clone lines lower. Bulls need to make H1 candles close above original LO-to-LO line: 1.1572 area.. Unless that happens odds are price eventually goes to target level: 1.1498
- Check 4: BLUE TL breakout will give confidence to bears but for more bearish continuation the lower LO clone trendline is crucial support level for today: roughly 1.1540/45 area!
- Check 5: Also notice the Hidden Bearish MACD Divergence that signaled the bear move early enough! To be honest I failed to notice it in time but as you can see it could have helped scalpers to enter a profitable short trade.
If bears win in the end it simply would mean: The short term bull move was just a classic retest of H&S neckline.
Stay Green
Be a seer, not a looker!
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