Bears tested EMA 200 (black) and rejected by bulls. Then a bullish move started to test the most important resistant line (green dashed). This time rejected by bears at the most important resistant point while overlapped with Ichimoku Cloud and dropped below Senko A.
Now price is moving below Ichimoku and getting closer to EMA 200, while EAM 200 is moving above Fib 0.382 and needs a little more to cross up EMA 50 (death cross).
I think it's time to go short. But still should wait for a confirmation.
Now price is moving below Ichimoku and getting closer to EMA 200, while EAM 200 is moving above Fib 0.382 and needs a little more to cross up EMA 50 (death cross).
I think it's time to go short. But still should wait for a confirmation.
Comment:
A bearish engulfing candle right after being rejected at resistant point. Bulls are disappointing.
Comment:
Another rejection, bears still has the control.
Trade closed: target reached
EMA 200 moved above Fib 0.382 (being flatted) and it's not a so much strong support anymore.