I've been thinking about price movement lately and wondering where price can expect to react. On the weekly chart, theres a juicy order block (an up candle before the move down) that price is approaching. I would expect price to react within the extrapolated box drawn out.
Dropping into the daily timeframe, you can see the blue support and resistance lines where price will most likely react from.
The 4hr shows more detail still as support and resistance lines are drawn in pink.
So...what to do? Its all about your time frame. In my opinion, the short term momentum (4hr and below) is to the downside, so look for to sell short when price reaches a level. I think there's upside on the daily and weekly timeframes so look to buy dips.
