1) Daily: Price having a lot of long wick rejections at this area. This area has had rejections previously before.
2) Price has also touched monthly 50 EMA, this is a major zone.
3) @ 4hrs chart price is moving sideways
4) @1hrs chart Price has formed a bearish pattern towards the upper trendline line. Divergence at 1hr time frame chart
5) 15mins chart price has formed a double top with neckline break, 15mins EMA crossover, and price retesting the neckline.
6) Long wick candle rejection @15mins chart from 61.8% fib level.
7) Wait until price creates wave ABC between wave 1 & 2.
Entry can be made upon the completion off wave C with clear bearish candlestick pattern
A) TP towards 0:87150
B) SL: 30 pips
Just a quick short term trade
2) Price has also touched monthly 50 EMA, this is a major zone.
3) @ 4hrs chart price is moving sideways
4) @1hrs chart Price has formed a bearish pattern towards the upper trendline line. Divergence at 1hr time frame chart
5) 15mins chart price has formed a double top with neckline break, 15mins EMA crossover, and price retesting the neckline.
6) Long wick candle rejection @15mins chart from 61.8% fib level.
7) Wait until price creates wave ABC between wave 1 & 2.
Entry can be made upon the completion off wave C with clear bearish candlestick pattern
A) TP towards 0:87150
B) SL: 30 pips
Just a quick short term trade
Order cancelled:
Breakeven Hit. 0%