Just making this short with key points as reminders:
> 10 EMA still not broken
> 21 EMA on daily and 50 EMA on the 4 HRLY still resistance
> We had the death cross and not the goldern cross. Refer to 2017 trend to see its relevance and the 100 daily EMA
> Trend is still downwards
> Smart money still waiting patiently indicated by volume (refer to previous volumes with blue markers)
> Daily RSI still in the bearish zone
> Fib Ring set barrier\resistance
Conclusion:
If you catch these bounces, shorting is still the way and take your profits with set targets.
Me, I missed this bounce and hence waiting it out as 9700 is a resistance I don't think it will pass.
4 HRLY Chart, close up: Blue lines are confirmed levels for resistance and support
> 10 EMA still not broken
> 21 EMA on daily and 50 EMA on the 4 HRLY still resistance
> We had the death cross and not the goldern cross. Refer to 2017 trend to see its relevance and the 100 daily EMA
> Trend is still downwards
> Smart money still waiting patiently indicated by volume (refer to previous volumes with blue markers)
> Daily RSI still in the bearish zone
> Fib Ring set barrier\resistance
Conclusion:
If you catch these bounces, shorting is still the way and take your profits with set targets.
Me, I missed this bounce and hence waiting it out as 9700 is a resistance I don't think it will pass.
4 HRLY Chart, close up: Blue lines are confirmed levels for resistance and support
Note
Bearish divergence...it seems this is as high as its going to go for the next few hours or more. Note
For the record, this was a BULLISH AB=CD PatternNote
Chart update: No change to the resistances... however the target has moved sideways (blue triangles).Note
Daily chart: Trade closed manually
:(
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Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
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.