This trade is a bit anticipatory of price breaching to the downside for the week ahead. Over on the 1-hour time frame, the chart does look a bit more chaotic. However, it'll make more sense once you look at this price action in conjunction with the daily time frame.
Note
Over on the daily chart, there are a few points of interest.
1. This is the first indication that the uptrend is coming to an end.
2. The high of this bullish bar failed to push to new highs.
3. Price tried to trade higher near the end of last week, but failed to close higher.
Note
Making another attempt to trade the downside.
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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.