WEEKLY:
Last weeks bullish momentum was quashed with a week of bearish pressure failing to make a new high
DAILY:
We’ve seen a break and retest of the bottom of the rising wedge and MACD is starting to turn, indicating lower prices may form.
4HR:
Moving down to the 4hr, we can see a clearer picture of the re-test and rejections below the 200, 50 and 20 ema zones.
1hr:
Further bearish confirmation of a smaller trend line connecting the swing highs. Taking a 38.2% fib entry.
Last weeks bullish momentum was quashed with a week of bearish pressure failing to make a new high
DAILY:
We’ve seen a break and retest of the bottom of the rising wedge and MACD is starting to turn, indicating lower prices may form.
4HR:
Moving down to the 4hr, we can see a clearer picture of the re-test and rejections below the 200, 50 and 20 ema zones.
1hr:
Further bearish confirmation of a smaller trend line connecting the swing highs. Taking a 38.2% fib entry.
Trade closed: target reached
Target reached.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.