- Bearish market structure.
- Price has already rejected the 71-78.6% fib retracement zone and with one 4H bearish engulfing candle, 5 days worth of price was crushed.
- We have finally closed beneath a very strong level of support/consolidation on multiple time frames.
- The bullish trendline is finally broken which gives us more bearish confirmation.
- With multiple timeframe confluence, we now wait for a retest back into key disturbance level ($4037.5) before selling towards $3687.50.
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Disclaimer
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.