Failed breakout to the upside, looking at intraday charts of 1H the recent upmove was abit too parabolic and current breakout great place for intra-day short entries / long profits.
If we manage to hit the swing low stop-losses on 3330, this should lead to a great intraday scalp for test of the trend extreme.
Ideally we see a climatic selloff to scare off some bulls and bait in short-sellers underneath this area.
Will look for signs of the downward breakout to fail (Breakout should not get followthrough selling), and initiate long on a buy-signal. To be on the safe side, its best to wait for a buy signal on the hourly graph before taking full size.
If we manage to hit the swing low stop-losses on 3330, this should lead to a great intraday scalp for test of the trend extreme.
Ideally we see a climatic selloff to scare off some bulls and bait in short-sellers underneath this area.
Will look for signs of the downward breakout to fail (Breakout should not get followthrough selling), and initiate long on a buy-signal. To be on the safe side, its best to wait for a buy signal on the hourly graph before taking full size.