Price has broken out of support zone and has retraced back to previous support and formed an engulfing candlestick on the 1 HR TF. If sellers continue to follow through and create a bearish candlestick formation on the 4hr TF, Will be looking to sell the market to shown daily support zone.
Looking for a possible bearish candlestick formation at the top of the megaphone structure, on a higher timeframe. Then I will be looking to short the market. Expecting. Price to go down
As we can see here, the bulls are in control of the market with a short term retracement during NY session. Price with likely continue to go up to up once it breaks out past this ascended triangle.