We got the pullback we are looking for, now it could be range bound for few days .
Right now, we are forming a series of lower highs on 1 hr time frame, the fact that we have a cross over between conversion and base line in favor of bears. We can try sell when we see price fail to go above $1666 ( current 26 ema level ). The target is sub $1640. The idea would be invalidated on any breach and close above $1680
Right now, we are forming a series of lower highs on 1 hr time frame, the fact that we have a cross over between conversion and base line in favor of bears. We can try sell when we see price fail to go above $1666 ( current 26 ema level ). The target is sub $1640. The idea would be invalidated on any breach and close above $1680
Note
$1642 need to act as resistance for the descending channel to hold, so far the forecast is in line, i would just scalp
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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.