GC possible back to short. Make up your mind already!
So GC do not know what it wants. Now at neckline. Critical 4hour candle
- if price break below 4h neckline on 4h candle close take short position. Aggressive sell on break of neckline or conservative sell on retest.
- weakened demand zone (already reacted to prior demand zone) calls for possible lower target= more profit. However I would still take at least partial profit here.
- relatively weak support at black lines.
If price finish above neckline on candle close but rsi close below neckline on its head and shoulder still consider short entry. This is bearish divergence on lower time frame. Especially with close below the 50 line.
- if price break below 4h neckline on 4h candle close take short position. Aggressive sell on break of neckline or conservative sell on retest.
- weakened demand zone (already reacted to prior demand zone) calls for possible lower target= more profit. However I would still take at least partial profit here.
- relatively weak support at black lines.
If price finish above neckline on candle close but rsi close below neckline on its head and shoulder still consider short entry. This is bearish divergence on lower time frame. Especially with close below the 50 line.
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