This an immaculate setup.
- Great horizontal resistance
- 1hr 50 EMA Retest
- 4hr 50 EMA Retest
- Daily 50 EMA Retest
- Monthly 50 EMA Rejection
- Daily Bearish Engulfing
- Weekly Bearish Engulfing
- Monthly Bearish Engulfing
My target depending on price action will be either the daily lows or the weekly 50 EMA
Finally, im done playing the waves on this. This is the moment I have been waiting for, the perfect entry for a short down to around the monthly 50 EMA. I do believe this run will start here in the next few hours.
Risky trade, there are not many bearish confluences. The cons are the bullish engulfing candle on the daily, the 4hr ema and the 1hr ema are against a short.
- Trend line break and retest
- Rising Wedge on the 1hr
-Deceleration on the 1 hr
4hr Bearish Divergence
Still riding this trade down to the monthly 50 EMA but saw a potential pullback play for a quick gain. This trade could also easily go down to the 1hr lows.
- Double top means there is room to go
- Close under the 4hr EMA
- Horizontal resistance
- Bearish High Testing Candles
- Retest of the 1hr 50 EMA
- Retest of 1hr Pivot
Taking this to around the 1 hr 50 EMA. Just a thought for a small gain, this trade is risky. This is just a pull back play if you enjoy playing the waves.
- Falling Wedge 1hr
- Strong Trend Line Retest 4hr
- Bullish ABCD Pattern
- Support 2 on Daily Pivot Point Standard
Been watching this setup for a while now waiting for the right opportunity. After weeks, it finally broke the trend line it has been on for a while. I saw a head and shoulders pattern forming on the weekly and knew it was coming to an end. Currently it is retesting the Weekly 50 EMA , The Weekly Trend Line , Head and Shoulders Retest, Rising Wedge on the Daily to...