The chart you are looking at is 1Hour candles shown inside Daily candles. As you can see, price has approached and rejected a significant level. This is the first (and second) failed retest of this area since it was first broken with strong momentum just over a month ago on 5 July 2022. After the recent rejections, it is expected that price will fall offering an easy 4:1 Reward Risk ratio.
Simplify your charting analysis with my Multiple Time Frame Candles indicator available here ryanleefx.com/
Happy Trading!
Happy Trading!
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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.
Simplify your charting analysis with my Multiple Time Frame Candles indicator available here ryanleefx.com/
Happy Trading!
Happy Trading!
Related publications
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.