For this setup, It is best seen on the daily and 4h charts, but for the sake of this analysis, I am looking at a last kiss (retest of broken zone) setup.
On the daily chart, price broke through a significant support level, and is now going up to retest it.
In my opinion, when the current 4h candle closes then that will be a much stronger signal to short than the hourly candle which has already closed.
A short position is valid in this case.
On the daily chart, price broke through a significant support level, and is now going up to retest it.
In my opinion, when the current 4h candle closes then that will be a much stronger signal to short than the hourly candle which has already closed.
A short position is valid in this case.
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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.