Im watching G/U on the 4H we have had a TC off the 8 and it also closed below the 200. However there is still the supporting trend line right below price.
Also the candle was big so I wouldnt just take the TC as it was. I was looking at a possible retrace back to 9900 and then short there but with the supporting trend line being first TP. But Im worried that if price does go back to 9900 off the supporting trend line it could be that it is not just retracing the 4H candle (meaning the TC is fake) and price moves much further up.
Thoughts?
Also the candle was big so I wouldnt just take the TC as it was. I was looking at a possible retrace back to 9900 and then short there but with the supporting trend line being first TP. But Im worried that if price does go back to 9900 off the supporting trend line it could be that it is not just retracing the 4H candle (meaning the TC is fake) and price moves much further up.
Thoughts?