Here are my reasons for entering a short position on BCH /USD.
The confluences for my entry:
✓ Strong overall downtrend
✓ Rejection of major key level
✓ Hidden bearish divergence at key level lower high - indication continuation
✓ Rejection at the 0.618 Fibonacci Retracement level
✓ TD Sequential printing a 9 on the 2HR - signally buyer exhaustion
✓ Stochastics momentum heading down**
✓ RSI Momentum heading down**
*assumptions not confirmed
I will a short position with a stop loss above the wick of the reversal candle of the lower higher
** this is not financial advice **
The confluences for my entry:
✓ Strong overall downtrend
✓ Rejection of major key level
✓ Hidden bearish divergence at key level lower high - indication continuation
✓ Rejection at the 0.618 Fibonacci Retracement level
✓ TD Sequential printing a 9 on the 2HR - signally buyer exhaustion
✓ Stochastics momentum heading down**
✓ RSI Momentum heading down**
*assumptions not confirmed
I will a short position with a stop loss above the wick of the reversal candle of the lower higher
** this is not financial advice **