After taking a bad entry on this trade earlier I am taking another shot at grabbing a reversal.
Reasons for bias:
Strong rejection of .618 fib level
Potentail head and shoulders pattern
Potential EMA fakeout on hourly
Bearish stochastic on 4 hour and hourly
Price in area of strong structure
Following the overall trend
Reasons for bias:
Strong rejection of .618 fib level
Potentail head and shoulders pattern
Potential EMA fakeout on hourly
Bearish stochastic on 4 hour and hourly
Price in area of strong structure
Following the overall trend
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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.