H4 price is on bearish for ranging on the border with Ichimoku cloud to be around Senkou Span B line and between the following support/resistance levels:
- 1.1128 resistance level located far above Ichimoku cloud and Senkou Span A line which is the virtual border between the primary bullish and the primary bearish on the chart;
- 1.0892 support level which is located below Ichimoku cloud on the primary bearish area of the chart.
Chinkou Span line is below the price for the ranging condition.
Resistance | Support |
---|---|
1.1113 | 1.0920 |
1.1128 | 1.0892 |
If
H4 price will break 1.0892 support level on close H4 bar so the primary bearish will be continuing.
If H4 price will break 1.1128 resistance level so we may see the reversal to the primary bullish
condition.
If not so we may see the ranging market condition within the levels.
- Recommendation for long: watch close H4 price to break 1.1128 for possible buy trade
- Recommendation
to go short: watch H4 price to break 1.0892 support level for possible sell trade
- Trading Summary: ranging
SUMMARY : bearish