Price is currently correcting from a big impulsive move down. Getting close to a Fib 50 & 618 zone & price is starting to look very over bought.
I will be looking for signs of rejection/reversal if & when price gets inside the sell zone - Red Box.
I will only enter this trade on a momentum candle down. Once price starts to drop, look at your 15 min chart & enter with momentum.
If price breaks the 618 level then I will void this short trade unless there is a huuuuuge momentum candle going down.
Good luck :)
I will be looking for signs of rejection/reversal if & when price gets inside the sell zone - Red Box.
I will only enter this trade on a momentum candle down. Once price starts to drop, look at your 15 min chart & enter with momentum.
If price breaks the 618 level then I will void this short trade unless there is a huuuuuge momentum candle going down.
Good luck :)
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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.