So currently we’ve seen push lower to the 200MA which we spoke about acting as support on our last post. Currently we’re seeing increased at this level which is an indication od increased buying of orders as there has also been support of increased buy . There has been buying up of order occurring at the three points circled in red. In addition to this price has also rejected the drawn and can be seen on the .
At a more macro level we will want to see price push up and close above the second on the hourly chart. Some confirmation of a rejection wick of the top of the second will be ideal. Once and if this occurs we will then want to see push towards the top where we will want to see the same action occur where price breaks and closes above to continue .
On the other hand price can come down and break the very bottom , if it closes below then its a potential indication that prices will come down further. Price Amy also enter a small range between the bottom and middle with liquidity being tapped into below and above those . The key scenario which will give more indication of the direction price wants to go is on the closes of the candles once they break either way from those .
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