bearish outside bar??

The price action keeps on moving erratically along the H4 lower trendline as the bulls and bears are fighting hard to gain control of the market. The only way to trade this kind of market is to have reasonable stoploss with acceptable risk.

The bears right now have a slight advantage as a bearish outside bar has formed on the H4 chart and closed slightly below the lower trendline. However, the bears need to pull the beast below 145.00 in order to win the battle.

Below is the H4 chart as of 10 am Malaysia.


1 am (15 hours later) - the hourly candle had closed at 147.30. Had taken partial profit along the way even though the price action actions were still erratic. Meanwhile the remaining positions are now covered with stop loss moved to breakeven.

Still expecting the price to hit 145.0 soon.


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