ABCDE Move completed on the four hour, with the next impulse pushing the 4hr below the last HigherLow. Close below on this 4hr candle and we will be back in sell mode till the next solid resistance at the 1.2300 swing low. (Moderate Resistance in between.)
4hr Close above the last swing low of 1.03400 and the bulls may see a sharp opportunity to get in long. Looking at this from the bulls perspective, the test of the 1.05000 area rejecting shows the Institutional traders must have unloaded their buys at profit. Sentiment will need to update for a few days but should reflect a strong flow of Buy too sells.
Bulls won't be participating till we see a significant consolidation. Perhaps in Asian session.
Sitting by till this 4hr close and then will look for a directional opportunity based on the close.
Happy Hunting All!
4hr Close above the last swing low of 1.03400 and the bulls may see a sharp opportunity to get in long. Looking at this from the bulls perspective, the test of the 1.05000 area rejecting shows the Institutional traders must have unloaded their buys at profit. Sentiment will need to update for a few days but should reflect a strong flow of Buy too sells.
Bulls won't be participating till we see a significant consolidation. Perhaps in Asian session.
Sitting by till this 4hr close and then will look for a directional opportunity based on the close.
Happy Hunting All!
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