The 4H closed below the 100EMA, with the 20 and 50EMAs now crossing to the downside. Price as well as the RSI are breaking support. MACD and DMI are confirming more downward movement. With a stop loss just above the last local swing low and well above the 100EMA and a target at previous resistance zone and 200EMA we have a good trading opportunity with a 3 to 1 risk to reward.
Trade closed: target reached