UJ's Deep Retracement 6/21/2018

Many believed that UJ would drop earlier in the week. Focusing mainly on the 4h and 1h time would leave you confused. It's important to to look at the higher timeframes to understand the major market bias. The overall market trend for today showed a sellers sentiment on the Weekly time frame. We are currently at a 61.8% Retracement level, which is also a great ratio or favored ratio for possible entries to complete the trend. 

Going down to our desire time frame to trade (4H). We see a break of structure to the downside to support the sellers sentiment on the weekly time frame. We also see a resistance point that is constantly being respected. 

Going down to our lower times frames, price action gives us hints of possible entry points that correlate with our two higher time frames for a more concrete entry.

In Conclusion, if we took the time to view our overall time frames bias. We would see that this isn't erratic behavior at all despite the news released today. The main focus going forward and what we tell our students, is to trust your technicals and make the right choices. Patience pays, even if you enter a tad bit early.