The price hit the 4h support area which is also a daily support area. We will see a bounce here probably.
This bounce has a probability to at least reach 23300 level which is a 4h resistance area. We will see how the price action is once the price reaches that resistance level of 23300.
This bounce has a probability to at least reach 23300 level which is a 4h resistance area. We will see how the price action is once the price reaches that resistance level of 23300.
Trade closed manually
The price did not quite touch the level the post was expecting. The price bounced only to cover 2/3 of the distance expected to be covered to reach to the previous 4h range high level of 23300. Now price has pierced through the 4h+daily support area. The 4h candle has not closed yet. If it closed below this level, we should be ready for further downside. But more on that in the next post. For now, closing this idea here.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.