On the H4, with price moving below the ichimoku indicator, we have a bearish bias that price will drop from 1st resistance at 1464.00 where the pullback resistance is to the 1st support at 1357.12 where the swing low support and 78.6% fibonacci projection are. Alternatively, price could break 1st resistance structure and rise to 2nd resistance at 1559.82 where the overlap resistance is.
Trading Recommendation
Entry: 1464.00
Reason for Entry:Pullback resistance
Take Profit: 1357.12
Reason for Take Profit:Swing low support and 78.6% fibonacci projection
Stop Loss: 1559.82
Reason for Stop Loss:
Overlap resistance
