So after seeing signs of bearish
divergence ( trend line
on indicator and on chart) we saw a large bearish
move down. Now price has had the third tap onto the ascending trend line
and as of now rejects the 50ema on the 4 hour time frame - another confluence being how it is sat on the 61.8 fib level which it is starting to push beyond. Stocastic oscillator also remains under 20 which indicates oversold conditions - indicating price may move upwards. Stop loss below 1.53000 - this was an area of resistance that I know could be support.