Reasons for sell:
- Divergence forming on the 4H
- Potential completion of wave 3 in this part of the correction
TP1 - Closest trend line (orange line).
TP2 - If orange line is broken and price consolidates within that area, I would look for a further short to the larger timeframe trend line (blue line).
- Divergence forming on the 4H
- Potential completion of wave 3 in this part of the correction
TP1 - Closest trend line (orange line).
TP2 - If orange line is broken and price consolidates within that area, I would look for a further short to the larger timeframe trend line (blue line).
Note
Closed position for +1. Looking for a break of the consolidation. The fib 38.2 of the last swing low to high seems to be holding as support at present. If your bias is short, potentially look for a close below and re-test of that level.
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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.