– Buys on close above 162.370 on the break of the 1h Resistance that was formed at New York Stock Exchange (Tuesday) targeting 4h Strong Resistance at 162.370 leaving Runners to 1h Resistance at 162.780.
– Sells on close below 161.460 on the break of the most recent 4h Support targeting Daily / 4h Rejection Level at 161.160 leaving Runners to 1h Support that was formed at London Open (Tuesday), Despite having clean traffic on the left from 161.460 to 160.830 on the Hourly timeframe we have to pay attention to the 161.160 level as it has been rejected multiple times on the Daily and the 4h timeframe, Daily Support was formed on (02.08.2022) at 161.160, Price has also tapped and Rejected this Level on (3rd, 4th, 5th, and 22nd of August) on Daily timeframe.
– Overall price still consolidating on the Weekly and Daily timeframe forming Lower highs and Lower Lows, it is extremely important to wait for Strong confirmation and volume time to execute on trade to have a higher probability of winning a trade, Managing Risk, and Securing when possible is also important in order to keep you on the winning side for the longer term.