4-hour timeframe
The amplitude of the previous day (high-low): 68 points.
The distance of the past day: 224 points.
THE BIG PICTURE:
Trading recommendations:
Aside from the technical aspect, traders should also consider the fundamental data and their scheduled releases.
When there is a possibility to open deals in advance, switch to the smaller timeframe (M15-M30) and monitor the reversal of the trend indicators (e.g. Heiken Ashi) considering the price level and the possibility for a pullback.
Explanation of the picture:
Ichimoku:
Tenkan-sen - red line.
Kijun-sen - blue line.
Senkou Span A - light brown dotted line.
Senkou Span B - light purple stipple line.
Chinkou Span - green line.
Bollinger Bands indicator:
3 yellow lines.
MACD indicator:
The red line and the histogram with the white bars in the indicators window.
