Looking for Cj to drop a little bit more to around 86.500, here are the reasons and markup for that bias!
Confirmations:
-Daily: Price is in an uptrend but is looking to pullback and close that gap a little more between my MA's
-4h: Price is still technically in an uptrend but the MA's have crossed over heavy to the downside, price broke below the 61.8% fib and also beneath a strong 4h zone and is now treating both as a strong ceiling, along with that we are having wicks to the upside showing exhaustion and the 8 ema is becoming a dynamic resistance, lastly off of that we are experiencing some good resistance from the 38.2% - 50% fibs.
-1h: When price broke below that yellow zone it was showing it had a hard time coming back above it and several hours ago when it came back to it we had a strong engulfing to the downside, we dropped for a bit then cam up again but again had trouble sustaining the move up because of fib levels and also the 21 sma, long wick this past hour indicated exhaustion and now we are having strong moves to the downside!
**Learn from your losses and wins and never take any traders advice as gospel, you are a man on an island and your markups and theories are the only ones that matter to your trading, these are here just to help you** (And me)
Confirmations:
-Daily: Price is in an uptrend but is looking to pullback and close that gap a little more between my MA's
-4h: Price is still technically in an uptrend but the MA's have crossed over heavy to the downside, price broke below the 61.8% fib and also beneath a strong 4h zone and is now treating both as a strong ceiling, along with that we are having wicks to the upside showing exhaustion and the 8 ema is becoming a dynamic resistance, lastly off of that we are experiencing some good resistance from the 38.2% - 50% fibs.
-1h: When price broke below that yellow zone it was showing it had a hard time coming back above it and several hours ago when it came back to it we had a strong engulfing to the downside, we dropped for a bit then cam up again but again had trouble sustaining the move up because of fib levels and also the 21 sma, long wick this past hour indicated exhaustion and now we are having strong moves to the downside!
**Learn from your losses and wins and never take any traders advice as gospel, you are a man on an island and your markups and theories are the only ones that matter to your trading, these are here just to help you** (And me)