The Current Pair – 8 HR / 4 HR
The above setup is interesting, We have a 2-Day zone 4 and the 4HR zone 4 – Bearish.
The response to the news is quite positive and may be tested (potentially) later on.
We must keep in mind that the price is coming from the original source of energy the 2 Month 3500 level targeting the 1-month zone above. (Time will eventually show what happens) For now, the 15 minutes broke up and has a buy bucket. A backtest of it is a buy which must be managed as the price moves up to the sell zones.
Broken 15 min
Which can easily happen during news events. And higher timeframes in action.
Backtest and bounce