mql5

H4 price is on primary bearish market condition located to be below Ichimoku cloud and Senkou Span line which is the virtual border between the primary bearish and the primary bullish trend on the chart.

• Chinkou Span line is below the price for the ranging bearish condition by the direction.
• Absolute Strength indicator is estimating the secondary ranging.
• Descending triangle pattern was formed by the price to be crossed for the bearish trend to be continuing.

Resistance	Support
1.1124	1.1002
1.1192	N/A

If H4 price will break 1.1002 support level on close H4 bar so the primary bearish will be continuing.
If H4 price will break R]1.1192 resistance level so the reversal to the primary bullish condition will be started.
If not so the price will be ranging within the levels.

• Recommendation for long: watch close H4 price to break 1.1192 for possible buy trade
• Recommendation to go short: watch H4 price to break 1.1002 support level for possible sell trade
• Trading Summary: ranging

SUMMARY : bearish

TREND : ranging