M= Market is on a down trend
A= Area of Value: There is a multiple layer of Confluence: 50EMA Dynamic Resistance, TrendLine , Longterm Fibbo Retacement Level of 38.2% and Short Term Fibbo Level of 50%
E= Trade a pullback from those Fibbo Level, wait for any rejection candle on an Hourly to Enter a Sell ( e.g Bearish Engulfing Candle)
E= Exit on the Next Fibbo Zones, TP1= 132.012
A= Area of Value: There is a multiple layer of Confluence: 50EMA Dynamic Resistance, TrendLine , Longterm Fibbo Retacement Level of 38.2% and Short Term Fibbo Level of 50%
E= Trade a pullback from those Fibbo Level, wait for any rejection candle on an Hourly to Enter a Sell ( e.g Bearish Engulfing Candle)
E= Exit on the Next Fibbo Zones, TP1= 132.012
Comment:
TP1 Hit, we can move our Stop Loss to 50% or halfway point, to wait for TP2