Looking at the cross over below 20EMA in H4.
This indicates potential short term sell which coincides with the large volume traded in the long candle pushing the price downward.
Next level of support, we are looking at 50EMA in H4 as well as the support level of previous strong resistance at 1980 level.
This indicates potential short term sell which coincides with the large volume traded in the long candle pushing the price downward.
Next level of support, we are looking at 50EMA in H4 as well as the support level of previous strong resistance at 1980 level.
Trade closed: target reached:
Took profit at 1980 resistance level. Good run.