DislikedWonder what happened there? I was convinced a long was on the cards after a close above the 89 and then wham dropped like a stone to the 365. Stop hunters back from their day off maybe. SL taken out for another losing trade {image}Ignored
The market was averaging 89 and 200 going sideways, they should be rising to buy.
In the example you gave look at how the averages were aligned and tilted after falling below the 89 average, and back when you reached the 21 average.
The simplest reasons to get in are from a top and bottom or a well-defined consolidation.
Now you have a top and bottom can project resistance lines.
On the weekly chart is still the downtrend, so we have reason to believe it keeps falling.
You can have a more general view of H4 by looking at the daily and weekly charts.
I only buy until that resistance after that I wait to see the reaction of the market.
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