Price is finding clear resistance at structure, creating a lower high & is following a downtrend here on the 4H timeframe. Price showing multiple rejection wicks, showing that buyers are failing to push price higher at this level. Will be anticipating a continuation of downtrend to create a new potential lower low next & resume the trend.
Commentaire:
D1: Doji indecision candle forming at zone
Ordre annulé:
Trade war news as trade talks are not going well with China, causing gold to rise & stocks to move lower
Commentaire:
H1: Always wait for confirmation. False breakout for trade war news during Asia session open, then price broke back below the orange zone retesting it as resistance once again. Then from there was a selloff to the projected levels below.