Hi Traders price has rejected from the 61.8 fib retracement looks like bearish momentum has kicked in on this short after the strong bearish candle price has printed 1st Target is located at previous structure level.my initial target would be the end of the 5th wave taking into consideration that my entry is not right at the resistance level .a close below the 25 & 50 EMA & The break of the trendline on the RSI is making this set up valid according to my rules.
Trade closed: target reached
Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.