-Price was rejected multiple times at .98 level..
-Price action with bearish engulfing candles indicating bears are in control
-Price reached .78% fib level indicating good probability for full retracement
-Price remains under clouds in bearish landscape
-RSI has not found support level from momentum on the 4hr yet
Alternate Scenario:
Price returns to .382 for a retest before continuing to decline..
My bias overall remains bearish with my target displayed on the Fib level.
-Price action with bearish engulfing candles indicating bears are in control
-Price reached .78% fib level indicating good probability for full retracement
-Price remains under clouds in bearish landscape
-RSI has not found support level from momentum on the 4hr yet
Alternate Scenario:
Price returns to .382 for a retest before continuing to decline..
My bias overall remains bearish with my target displayed on the Fib level.
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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.