150 AND 200 EMA PINCH FORMATION SETUP
Price has already treated the 200 ema as resistance as pointed on the chart.
Now price has attacked the 377 ema.
2 possible scenarios.
1) The 200 has began to curve, which is indicating to me that momentum is to the down side.
Price may close below the 377 ema and may find support at the 610 ema.
The 150 and the 200 ema is forming the pinch formation, meaning contracting very tightly and follows with expansion
prior support/ resistance at the 377 ema. Prior support/ resistance at the 610 ema.
2) price may treat the 377 as resistance, and gravitate towards back to the 200 ema.
Now price has attacked the 377 ema.
2 possible scenarios.
1) The 200 has began to curve, which is indicating to me that momentum is to the down side.
Price may close below the 377 ema and may find support at the 610 ema.
The 150 and the 200 ema is forming the pinch formation, meaning contracting very tightly and follows with expansion
prior support/ resistance at the 377 ema. Prior support/ resistance at the 610 ema.
2) price may treat the 377 as resistance, and gravitate towards back to the 200 ema.
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