The trend is clear uptrend, based on the weekly and daily time frame.
At the 4 Hr time frame, we have RSI overbought, so we might see a retracement for the trend before its continuation to the upside.
The retracement scenarios are as follows:
1- Retrace to the BOS, coincide with the 50%/61.8% Fib level
2- Retrace at one of the FVG created at the uptrend push during Tokyo session, creating liquidity sweep with bearish wick.
3- Retest the AOI @1.9100, but if it reach this level, the trend might flip to bearish trend, as it will break the lower high @1.9170.
Need to carefully analyze the price action in each scenario to take the right decision of buy or sell.
Good Luck!
At the 4 Hr time frame, we have RSI overbought, so we might see a retracement for the trend before its continuation to the upside.
The retracement scenarios are as follows:
1- Retrace to the BOS, coincide with the 50%/61.8% Fib level
2- Retrace at one of the FVG created at the uptrend push during Tokyo session, creating liquidity sweep with bearish wick.
3- Retest the AOI @1.9100, but if it reach this level, the trend might flip to bearish trend, as it will break the lower high @1.9170.
Need to carefully analyze the price action in each scenario to take the right decision of buy or sell.
Good Luck!
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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.
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.