On the 1 hour Timeframe, Price has created a bearish CHOCH and confirmed the bearish move with a bearish BOS.
Price will most probably come into the 2347-2351 level as there is a 1 hour unmitigated OB at that level.
There are 2 scenarios that could play out.
1) Price taps into the 1 hour Bullish OB and creates a 5 minute CHOCH to the upside. IF price does do this, i will wait for a bullish BOS after the CHOCH to confirm the bullish trend on the 5 minute timeframe before looking for BUYS.
2) Price breaks past the OB with a body candle closure below 2347. Once this happens I will be looking for a break and retest continuation of the failed OB to Sell towards 2330 Level.
Price will most probably come into the 2347-2351 level as there is a 1 hour unmitigated OB at that level.
There are 2 scenarios that could play out.
1) Price taps into the 1 hour Bullish OB and creates a 5 minute CHOCH to the upside. IF price does do this, i will wait for a bullish BOS after the CHOCH to confirm the bullish trend on the 5 minute timeframe before looking for BUYS.
2) Price breaks past the OB with a body candle closure below 2347. Once this happens I will be looking for a break and retest continuation of the failed OB to Sell towards 2330 Level.