Direct from the desk of Dane Williams,
This is not your average forex broker email.
Here’s the higher time frame suport/resistance zone we have been watching.
You can see that price has come back to retest the previous area of support, this time potentially as resistance.
Our whole question has been whether we think that it is actually holding as resistance, or whether it’s going to go straight back above.
Well now zoom into an intraday, hourly chart and take a look at the price action:
You can see that price has poked its head through the top of the higher time frame zone, but on the daily its just wicks.
Price now failed to make a new higher high on the hourly and this is our chance to take a high risk:reward short from the setup.
Do you have any questions about this setup or my analysis? Hit reply to this email and let me know. I read and get back to anyone in my Inner Circle who takes the time to chat.
Best of probabilities to you,