19 May 2020
Downward point stochs signaled the pullback and price dipped back inside the H1 Buy Zone and extended its weakness deeper into the H4 buy Zone, the Bearish daily close that resulted with a long wick to the topside also validated the need for caution we mentioned in terms of price pulling back and retesting a couple of former resistance handles as new support since the breakout, as things stand, price has printed bullish reversal signals on the H4 and the H1 respectively but has traded into the now bearish H1 sell zone, as such, would like to see the following hold up, price staying above 1734.80 on the M15 and then the H1 getting a break and close above the 1743.96 handle on an hourly basis for us to see the H4 bulls continue the bullish run, till that happens, given where the H1 zone is, price remains vulnerable to further weakness and a retest of the 1725 handle before kicking on...
H1: Bearish and Sell Zone: 1739.46 - 1741.26
H4: Bullish and Buy Zone: 1737.52 - 1729.12
D1: Bullish and Buy Zone: 1713.59 - 1693.36
Intra Day Levels
Upside
1779.74
1765.25
1756.30
1754.55
1750.82
Downside
1741.81
1727.32
1718.37
1716.27
1703.88
Green Pips
Downward point stochs signaled the pullback and price dipped back inside the H1 Buy Zone and extended its weakness deeper into the H4 buy Zone, the Bearish daily close that resulted with a long wick to the topside also validated the need for caution we mentioned in terms of price pulling back and retesting a couple of former resistance handles as new support since the breakout, as things stand, price has printed bullish reversal signals on the H4 and the H1 respectively but has traded into the now bearish H1 sell zone, as such, would like to see the following hold up, price staying above 1734.80 on the M15 and then the H1 getting a break and close above the 1743.96 handle on an hourly basis for us to see the H4 bulls continue the bullish run, till that happens, given where the H1 zone is, price remains vulnerable to further weakness and a retest of the 1725 handle before kicking on...
H1: Bearish and Sell Zone: 1739.46 - 1741.26
H4: Bullish and Buy Zone: 1737.52 - 1729.12
D1: Bullish and Buy Zone: 1713.59 - 1693.36
Intra Day Levels
Upside
1779.74
1765.25
1756.30
1754.55
1750.82
Downside
1741.81
1727.32
1718.37
1716.27
1703.88
Green Pips
4&1 All Time Profit:
$37,496