TRADE PLAN UPDATE: Key 4H Close Above $6732.00
Watch the opening as where we open will matter above or below 6732
Good morning, everyone.
This is an essential update to the trade plan I just published.
In that post, I wrote based on an assumption that the 4-hour (4H) candle would close below $6732.00. That scenario would have confirmed weakness and set up a bearish back-test.
This did not happen. The market pushed through, and the 4H candle has officially closed above the $6732.00 daily level.
This is a structurally significant change. The RTH open is now the critical pivot.
Bullish Scenario: An open above $6732.00 neutralizes the immediate bearish bias. The next upside levels are the untested 4H at $6744.75 and the 1H at $6739.25. A firm break above the significant daily resistance at $6750.25 would be strong confirmation of upside continuation.
Bearish Scenario: An open below $6732.00 would be seen as a major failure, signaling the extreme weakness I discussed in the original plan.
My sincere apologies for making an assumption on the 4H close. It’s a critical reminder that we must wait for confirmation. As we know, anything can happen in these markets, which is why I’m sending this update immediately.
Stay safe, trade smart, and watch that open.
Ryan Bailey
4hr:
Daily
